Nicholas Sargen Intel INTC-Q TOP PICK May 14, 2004

They keep missing the mark, keep lagging in this space. Are unlikely to recover. The C-suite has been a revolving door.

Struggled for a long time. Could be putting in a bottom. The play to be in if we repatriate chips to NA. Decent dividend. You don't look for value in the chip sector. There are better value names, and better growth names, so why own this one.

The foundry was ill-advised and the old CEO was overspending. The new CEO is better, and better understands foundries. That said, it's still early to invest in this.

This doesn't help their core problem. Intel is not in a good position.

Intel has fallen so far behind TSM that it's hard to attract and maintain to talent, creating a negative cycle and continuous decline. He doesn't mind Washington have some stake in Intel, but Intel has so many issues. TSM and NVDA remain the top companies in chips.

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.

He believes in the CEO, but the stocks has just had a big move up.

It is not as dominant as before. The US government has bought 10% of Intel but this is not necessarily a recipe for success.

Is up 57% in Q3, and one of the top S&P stocks in Q3. The CEO fixed the balance sheet, sold a major stake to the US government and is turning things around.

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.