2024-06-05 01:44:27 ET
Summary
- Intel's stock price has dropped 30% despite strong business performance, presenting a buying opportunity.
- The launch of Intel's new AI chip, Gaudi 3, could be a catalyst for a stock trend reversal.
- INTC's data center positioning and potential sales growth of Gaudi 3 could lead to a re-rating of the stock.
The stock price of Intel Corporation ( INTC ) plummeted a cool 30% since I took a small position in the chip company back in January of this year. The main reason why I initiated a first position was that Mobileye, a developer of autonomous driving technologies, came off its best year in terms of sales ever and that Intel presented a robust profit outlook for 1Q24....
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Intel: Poised For A Recovery (Upgrade)