Intel Stock Crashed Today -- Is It a Buy?
Since crashing hard after earnings last month, Intel (NASDAQ: INTC) spent much of the last three weeks clawing its way back higher -- and even approached its pre-earnings share price last week. All that hard work was undone in a day, however -- today, to be precise -- when Intel unveiled its "2022 and long-term growth strategy" last night.
In its presentation, Intel described how, over the long term, it intends to rebuild its business, first reaccelerating sales growth into the "mid-to-high-single digits" range in 2023 and 2024, then stepping even harder on the gas pedal, and racing ahead to 10% to 12% annual revenue growth by 2026. Margins are expected to do a U-turn as well, ranging from 51% to 53% in 2023 and 2024, and reaching a respectable 54% to 58% level by 2026.
But what number is missing from all of the above? You guessed it: 2022.
Source Fool.com
