It's Time to Buy Intel Stock Hand Over Fist
Shares of chip giant (NASDAQ: INTC) were hammered last week, after the company disclosed some information about its new reporting structure. Historically, the company allocated manufacturing costs across its various product divisions. With Intel aiming to become a leading foundry by the end of the decade, the company has broken out manufacturing into its own business unit.
I won't mince words: The headline numbers look bad. Intel Foundry reported $18.9 billion of revenue in 2023, almost all of which was internal, and booked an operating loss of nearly $7 billion. Furthermore, Intel said it doesn't expect the foundry business to break even until 2027.
It's no wonder, then, that Intel stock sank about 13% last week.
Source Fool.com
Intel Corp. Stock
€28.51
-0.770%
Currently there is a rather positive sentiment for Intel Corp. with 25 Buy predictions and 11 Sell predictions.
As a result the target price of 42 € shows a positive potential of 47.32% compared to the current price of 28.51 € for Intel Corp..
