Intel Crashed 30%. Is the Stock a Sell or a Bad-News Buy?
's (NASDAQ: INTC) CEO Pat Gelsinger said he was disappointed by the chipmaker's second-quarter results -- and he wasn't the only one. The market sanctioned the company's performance, bringing the stock down 30% in one trading session last week. In the earnings report, Intel fell short of analysts' expectations, predicted a weak period ahead, and announced a $10 billion cost-cutting plan that includes major job cuts.
This comes as the company, which had fallen behind in the artificial intelligence (AI) race, aims to gain share there, become a giant in the AI personal computer (PC) industry, and work toward its goal of becoming the world's No. 2 chip foundry by the end of the decade.
Now, your question might be whether Intel's latest news is a warning sign for investors or simply a painful but necessary period to go through to reach growth down the road. Let's find out -- and see if this stock is a sell or a bad-news buy.
Source Fool.com
Intel Corp. Stock
Currently there is a rather positive sentiment for Intel Corp. with 22 Buy predictions and 16 Sell predictions.
Based on the current price of 18.05 € the target price of 38 € shows a potential of 110.55% for Intel Corp. which would more than double the current price.
