It's Time to Buy Intel Stock Hand Over Fist
Shares of chip giant (NASDAQ: INTC) were hammered last week, after the company disclosed some information about its new reporting structure. Historically, the company allocated manufacturing costs across its various product divisions. With Intel aiming to become a leading foundry by the end of the decade, the company has broken out manufacturing into its own business unit.
I won't mince words: The headline numbers look bad. Intel Foundry reported $18.9 billion of revenue in 2023, almost all of which was internal, and booked an operating loss of nearly $7 billion. Furthermore, Intel said it doesn't expect the foundry business to break even until 2027.
It's no wonder, then, that Intel stock sank about 13% last week.
Source Fool.com
Intel Corp. Stock
€19.94
9.670%
Our community is currently high on Intel Corp. with 26 Buy predictions and 15 Sell predictions.
With a target price of 38 € there is a hugely positive potential of 90.59% for Intel Corp. compared to the current price of 19.94 €.
