Intel's Stock has Slumped 27%. Here's Why It Remains a Buy in the Second Half of 2024
(NASDAQ: INTC) has hit more than a few speedbumps over the last decade. The company was once the most prominent player in chips, a go-to supplier for many tech firms, and a leader in manufacturing. Yet the rising competition in its space over the last decade has left it struggling to stay relevant, and its stock is down by 40% since 2014.
However, the company has gradually begun to turn things around in the last year. In response to the surging artificial intelligence (AI) trend, Intel has debuted a new line of AI-enabled chips that are priced significantly lower than similar offerings from its rivals. Meanwhile, Intel is getting back to its roots by refocusing on manufacturing.
Taiwan Semiconductor Manufacturing (TSMC) (NYSE: TSM) won away much of its foundry market share over the last decade. Now, Intel is looking to lead the industry again by prioritizing filling a gap in the market -- a scarcity of high-end chip manufacturing capacity in the U.S. Intel plans to build multiple plants in the U.S., which could lead to it gaining market share and profiting from the high demand for AI chips.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 23 Buy predictions and 16 Sell predictions.
With a target price of 38 € there is potential for a 100.68% increase which would mean more than doubling the current price of 18.94 € for Intel Corp..
