Sometimes the stock market goes overboard punishing a stock. That appears to be the case for chip giant Intel (NASDAQ: INTC) and home-improvement retailer Home Depot (NYSE: HD). Both stocks are down at least 15% from their 52-week highs, and both stocks look like solid buys for long-term investors.

Intel's core PC and server central processing unit (CPU) businesses are under assault. In both markets, not only has rival AMD been gaining ground, but chips based on technology from Arm Holdings are starting to proliferate.

In the PC market, and Qualcomm are working together to make Arm-based laptops a viable option. The plan centers around Qualcomm's ultra-fast chips, Microsoft's reworking of Windows, and a software translation layer that enables legacy Windows applications to run on Arm-based PCs.

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Source Fool.com