Is It Too Late to Buy Intel Stock?
's (NASDAQ: INTC) share price was on a promising growth trajectory in early July, with its stock up 12% in the first half of the month. An escalating chip war between the U.S. and China made investors bullish about Intel's plans to build chip plants throughout the U.S. However, that changed when the company posted its earnings results for the second quarter of 2024 on Aug. 1.
The chipmaker's stock has plunged 32% since the earnings release, knocking billions off its market value. Intel missed expectations on multiple counts and revealed cost-cutting measures that made stockholders uneasy. Operating income and free cash flow have fallen 100% and 238% over the last three years and Intel is in a tricky position, to say the least.
Intel's long-term objective of becoming the world's biggest artificial intelligence (AI) chip manufacturer and investment in U.S. chip fabs remain compelling reasons to buy its stock. However, it's also difficult to consider its shares when better-valued and more reliable tech options are out there.
Source Fool.com
Intel Corp. Stock
Currently there is a rather positive sentiment for Intel Corp. with 31 Buy predictions and 12 Sell predictions.
As a result the target price of 38 € shows a very positive potential of 77.61% compared to the current price of 21.4 € for Intel Corp..
