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It's Still Way Too Soon to Buy Intel Stock

TheMotleyFool

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It's Still Way Too Soon to Buy Intel Stock: https://g.foolcdn.com/editorial/images/706960/semiconductor-technician-with-wafer-in-manufacturing-plant.jpg

Former chip industry leader Intel (NASDAQ: INTC) recently announced better-than-expected third-quarter 2022 earnings. Along with its recent partial spinoff of self-driving car chip designer Mobileye, the announcement helped fuel a near 10% rally in Intel stock during the last week of October.

However, even with the post-earnings pop factored in, Intel stock is still down nearly 47% in 2022 -- and more than 65% from its all-time high reached in early 2020 before the start of the pandemic. As such, I believe it's still too early to call a bottom for Intel, let alone for a sustained rally to occur for this once-great tech manufacturing leader.

Source Fool.com

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