Intel: I Got This Wrong But Here's Why I'm Still Not Buying Yet (Archive)

This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.

Elevator Pitch

• Intel is deemed too important for U.S. national security, as the U.S. government wants to secure supply chain stability for semiconductors.
• Intel has received $18.1 billion in funding from the U.S. government, Nvidia, and SoftBank. But this still falls short of Intel's $40 billion capital needs to pursue its foundry ambitions.
• INTC trades at a 35% valuation discount to peers, which may be enticing for bulls.
• The relative technicals vs. the SPX500 also suggest a genuine bottom has been printed. And the charts look like outperformance may continue.
• But I believe Intel's problems can't just be solved with more money. It still needs to deliver better on the execution front. And here, it is faltering with continued delays, particularly on the foundry business side.

Read the full article here.