2024-06-21 08:30:00 ET
Summary
- Intel stock has plunged deep into a bear market, even as its semiconductor peers have powered to a new high.
- Intel is facing significant challenges across its ecosystem, undermining investor confidence.
- Nvidia is making a highly determined push to unhinge Intel's traditional data center leadership.
- Nvidia's ability to integrate across the stack could stretch the gap with Intel.
- I argue why investor sentiments on INTC have already turned bearish, making a potential turnaround increasingly unlikely.
Intel Stock Plunged Into A Bear Market
Intel Corporation ( INTC ) stock has dropped into a deep bear market, down more than 40% from INTC's December 2023 highs. I upgraded INTC stock in my previous update in early April 2024, anticipating Intel's well-diversified business segments to provide buying support. However, the thesis has fallen apart as bearish momentum in INTC continued unabated through its recent May 2024 lows....
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For further details see:
Intel: No Longer The King That It Once Was (Rating Downgrade)