Opinions
Jim Lebenthal
Intel
INTC-Q
DON'T BUY
Jul 28, 2023
Stock price when the opinion was issued
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He approves of Washington taking a stake in Intel. This isn't about socialism or Trump picking winners of losers, it's about the dire state of Intel and a long line of bad CEOs. Problem is, Intel is too big to go under. And the new CEO is a turnaround artist, who previously saved Cadence.
Not really, because the US is concerned about semiconductors and chips. US government now owns an estimated 5%. This injection ensures that the company will survive. Not the best, most powerful, AI chips (that's NVDA). Depends if you think new CEO can turn things around. Now has to execute.
If you think NVDA's growth can keep up, that's a name to look at as well.
This investor sounds just like him. Sold out of his fund, but still in separately managed accounts.
Everyone's interested in it. The foundries require so much capex, and that's why there aren't that many. Fantastic company, but execution has been problematic. New CEO doing fabulous job. Getting pretty close to average analyst price target. Buy if you can see it down at $33, and certainly under $30.
No need to go there. Lots of positive news around the name, but it's really just geographic positioning. Floundering, and government buy-in came at the right time -- pure luck. They care in the US, because they want it to be a US manufacturer of chips. NVDA took its crown.
Instead, look at TSM or ASML or NVDA.
They just reported a return to profitability. He held this for 10 years, a great stock until management and other factors changed. Yes, Intel beat, but it ain't cheap. You have a long wait in this at best, though you won't lose money in it. He prefers Micron, NXP and others.