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Intel Remains Broken

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  • Intel Corporation reported another mixed quarter in Q3, with relatively weak results while the market tries to celebrate earnings beating guidance.
  • The chip company continues to focus on cutting costs and capex, while peers are moving full speed ahead with advanced AI GPUs and increasing foundry spending.
  • The stock shouldn't be bought until Intel has turned around the business due to the stressed balance sheet and cash burn position.
  • Looking for a portfolio of ideas like this one? Members of Out Fox The Street get exclusive access to our subscriber-only portfolios. Learn More »
Intel Corporation (NASDAQ:INTC) stock jumped after finalizing plans to slash thousands of jobs in a move that isn't a positive sign for the business. The once chip giant again reported mixed results in a sector with explosive growth. My investment thesis remains Bearish on the stock, especially on any major rally above $20.

Read the full article on Seeking Alpha. 

Disclosure: No position mentioned. Please read the disclaimer page for more details. 

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