3 Reasons to Buy Intel Stock in 2024
It hasn't been easy to be an investor in (NASDAQ: INTC) over the last few years. The company was responsible for over 80% of the central processing unit (CPU) market for at least a decade, and was the primary chip supplier for Apple's MacBook lineup for years. However, Intel's dominance saw it grow complacent, leaving it vulnerable to more innovative competitors.
Advanced Micro Devices started gradually eating away at Intel's CPU market share in 2017, with Intel's share now down to 69%. Then, in 2020, Apple cut ties with Intel in favor of more powerful in-house hardware designs. Intel's stock subsequently dipped 7% over the last three years. Meanwhile, annual revenue tumbled 20%, with operating income down by 90%.
However, the fall from grace has seemingly lit a fire under Intel again. According to Mercury Research, from the second quarter of 2022 to Q2 2023, Intel clawed back 3% of CPU market share from AMD. Meanwhile, the company has pivoted its business to the burgeoning artificial intelligence (AI) market.
Source Fool.com
Intel Corp. Stock
Currently there is a rather positive sentiment for Intel Corp. with 28 Buy predictions and 13 Sell predictions.
As a result the target price of 41 € shows a positive potential of 44.77% compared to the current price of 28.32 € for Intel Corp..
