Intel Corporation (NASDAQ: INTC) stock lost 12% following the release of its fourth-quarter and full-year 2023 earnings report. Although the 10% revenue growth in Q4 appeared promising, the revenue outlook for Q1 did not meet investor expectations.

Still, the semiconductor stock has risen by more than 45% over the last year even when accounting for the post-earnings decline. This conflict may leave investors wondering whether Intel's stock-price growth had gone too far or if the drop represents a hiccup in an otherwise robust recovery.

Admittedly, Intel investors have seen little reason for optimism over the last few years. Industry changes and a lead in artificial intelligence (AI) led to Nvidia becoming the leading semiconductor stock. Also, Intel losing its technical lead in the CPU space led to market-share gains for AMD and a need to turn to Taiwan Semiconductor (TSMC) to produce its most advanced chips.

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Source Fool.com