Intel (NASDAQ: INTC) seems to have finally broken its downtrend. Following a strong earnings report, it surged nearly 7% higher and is up 30% this year.

But despite that significant increase, investors may still have time to get in on the recovery for this semiconductor stock. A closer look reveals why.

Revenue for the second quarter of 2023 came in at just under $13 billion. Since that is down 15% year over year, one might not see that as a buy signal. A $2.3 billion income tax benefit helped its generally accepted accounting principles (GAAP) net income rise to around $1.5 billion, and non-GAAP earnings were $547 million.

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Source Fool.com