1. $Intel(INTC)$ Broke Out With Strong Volume on the Daily Chart.
$Intel(INTC)$ freshes 52wk highs, and completely filled that July 2022 gap, even as many other chip stocks were down.
2.What Will Drive $Intel(INTC)$ Price Higher？
Business: $Intel(INTC)$ signed (down payment) a big new customer for their developing foundry business. Barrons said $Intel(INTC)$ heads higher even as U.S.-China chip ar worries mount. “Since joining Intel two years ago, Intel CEO Pat Gelsinger has implemented an aggressive turnaround strategy, betting on the expansion of the company’s foundry business. Earlier this year, Intel executive Mark Gardner said the company’s foundry services offered a compelling proposition for its customers, citing its more geographically secure supply chain and an array of advanced chip packaging services.”
Earnings: on July, $INTC reported it returns to profitability after two quarters of losses in the second-quarter earnings of 2023, Intel (INTC) Q2 2023 Earnings Call Transcript Summary
Valuation: As of 2023-09-08, the Intrinsic Value of Intel Corp (INTC) is 30.72 USD. This Intel valuation is based on the model Discounted Cash Flows (Growth Exit 5Y).
Target Price From Tiprank: Based on 31 Wall Street analysts offering 12 month price targets for Intel in the last 3 months. The average price target is $36.31 with a high forecast of $46.00 and a low forecast of $17.00. The average price target represents a -4.07% change from the last price of $37.85.
YTD 2023: $Intel(INTC)$ has experienced a 3-month gain of 14.17% and the YTD 2023 is 44.46%.
3. More Discussions on $Intel(INTC)$
“ $Intel(INTC)$ triple top potential negated with such a strong high volume move they former resistance.” by Javier @JaviCharts
by Javier @JaviCharts
“$Intel(INTC)$ has another amazing day! Still bullish and holding my calls! Nine green days in a row and this name is close to overbought. We might need some time to consolidate. After a quick look, this is the most green days in a row for this name in the last couple of years at least.” by Glass Mantis @psquires426
by Glass Mantis @psquires426
4. Question for Tigers
How do you like the $Intel(INTC)$ ?
Do you think $Intel(INTC)$ will ascend more?
Any other stocks are shaping the same pattern?
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Comments
🌟🌟🌟$Intel(INTC)$
was founded in 1968 at time when star performers like $NVIDIA Corp(NVDA)$
and $Taiwan Semiconductor Manufacturing(TSM)$ were not around yet. But in recent times, it has lost out to newcomers as it fell behind its competitors due to its failure to keep up with the latest technology in semiconductors.
While Samsung and TSMC have successfully produced the more efficient 7nm and 5nm chips, Intel has faced setbacks in developing 10nm chips.
However with the Chips & Science Act in August 2022, new funding of USD 280 billion is up for grabs to boost domestic research and manufacturing of semiconductors in the US.
Intel, being a US company is set to benefit. Intel plans to fabricate 18A chips by 2025 which will give it an edge over competitors.
The escalating tensions between US and China will also benefit Intel.
Performance wise Intel is up 42% year todate. At the current price, Intel has more upside potential to grow and is on my watchlist.
@Trend_Radar
There are 415.5K Intel option contracts traded on Thursday, up 92% from the previous trading day. Call options account for 70% of overall option trades. Particularly high volume was seen for the $38 strike call option expiring September 8, with 23,949 contracts trading.