Intel Gets a Much Needed Win
It's been a very difficult year for (NASDAQ: INTC). The company's strategy to build out a world-class foundry business has been slow to show results, spending on artificial intelligence (AI) infrastructure has put a damper on demand for server CPUs, the PC market isn't rebounding all that strongly, and Intel's own AI chip efforts are falling short.
On top of all that, the company announced mass layoffs earlier this year to bring down costs and suspended its dividend. Former CEO Pat Gelsinger then abruptly retired, leaving Intel's overall strategy up in the air. Intel did manage to finally lock down billions in grants from the CHIPS act to support its manufacturing efforts, a rare piece of good news for the company over the past year.
There's one more piece of good news for Intel as 2024 comes to a close: The company's second-generation discrete graphics cards appear to be a hit, at least compared to its inaugural effort. Intel put in a lot of work over the past two years fixing the myriad problems that plagued its entry into the market, and it now appears to have a winner on its hands.
Source Fool.com
Intel Corp. Stock
Currently there is a rather positive sentiment for Intel Corp. with 47 Buy predictions and 24 Sell predictions.
However, we have a potential of -5.36% for Intel Corp. as the target price of 74 € is below the current price of 78.19 €.
