after scouring the news today for an explanation for the drop of intels stock i found this
1. the market was down generally anyway
2. citibanks downgrade of the stock due to a report they claim management will make later lowering Q2 guidance.
3. an article in toms hardware stating that intel will delay the production of sapphire rapids until fall.
point two amounts to spurious rumor while point 3 is of legitimate concern. wall st has been on the war path against intels management for awhile now for failing to keep to a timetable. having worked in production myself however i would say that if you have to choose between missing a deadline or turning out a bad product the first is by far the lesser of the two evils.
long term i think this stock is still a steal at 6x earnings. its historic PE is 9-12x over 2 years and much higher if you go father back. if intel can get back to double digit sales growth as management claims this stock will take off.$Intel(INTC)$