To The Moon

🌟🌟🌟$Intel(INTC)$ shares dropped 12% on Friday after it issued an outlook for the 1Q24 that lagged analysts forecasts even as results for the latest quarter beat Wall Street estimates. Intel's dismal drop in share price also affected other Semiconductor stocks. $NVIDIA Corp(NVDA)$ is down almost 1% while $Advanced Micro Devices(AMD)$ also shed 1.7% but $Taiwan Semiconductor Manufacturing(TSM)$ rose 0.6% on Friday. $Semiconductor Bull 3X Shares(SOXL)$ is down 8% last Friday too. Intel Q423 earnings per share was 54 cents versus 45 cents expected. Revenue was USD 15.4 billion versus USD 15.15 billion expected. However for Q1 24, Intel expects earnings per share of 13 cents on USD 12.2 billion up to USD 13.2 billion versus expectations of 33 cents per share on USD 14.15 billion. Intel also projects a fiscal 1Q 24 net loss of 25 cents per share. According to CEO Pat Gelsinger, Intel core business which is PC and server chip would be at the low end in the current quarter. However overall sales would take a hit because of weakness in subsidiaries including Mobileye and its programmable chip unit, as well as revenue decreasing from other businesses that Intel has spun off or sold. Intel posted a net income of USD 2.7 billion or 63 cents per share compared with a net loss of USD 700 million or 16 cents per share last year. However Intel sales growth is up 10% from USD 14.04 billion last year and it breaks a streak of 7 quarters with declining revenue. Full year gross margin was 40%, down 2.6% percentage points on an annual basis. In 2023, Intel shares rose more than 74%. But after a drop of 12% this week is Intel a Buy? Intel CEO Pat Gelsinger said that he expects sales to grow every quarter this year and that growth is due to a long awaited rebound in the market for personal computers where Intel 's chips are widely used. Intel is also betting that growing interest in AI software on PCs will give the market an added boost through this year. Intel has launched new laptop chips with features that speed up AI calculations in the CES Event last month. Intel is also expanding its operations in Arizona from 2 to 4 factories that are estimated to cost USD 15 billion to USD 20 billion each. Intel has received funding through the US Chips and Science Act enacted in August 2022 which offered USD 39 billion in subsidies and a 25% tax credit to promote manufacturing in the US. Wall Street Analysts are bullish on Intel with a Buy rating, Target price of USD 46.38, an upside potential of 6%. While I am bearish on Intel in the short term, I believe Intel will be able to bounce back and thrive in the long term. The drop in Intel 'sshare price presents a great opportunity to bargainhunt Intel and hold for long term. As Warren Buffett likes to say When there is Fear in the markets it is time to be greedy. @Daily_Discussion @TigerStars @Tiger_comments @Tiger_Earnings @MillionaireTiger @CaptainTiger @TigerClub @TigerPicks @Tiger_SG