Intel’s stock is now trending back down after the election highs it had just a handful of days ago. I guess it had to come down some time! We were at $26 and now we’re hovering around $24.
While Donald Trump is reportedly lukewarm to the CHIPS Act there are rumbles in Congress that Intel is too big to fail and something, whether it’s direct assistance to Intel or maybe even a CHIPS Act II, needs to be done to ensure American semiconductor manufacturing continues.
I’d say Intel has a little ways to climb. It’s going to be some great news when the CHIPS Act money is finally in Intel’s accounts. $8.5 billion doesn’t pay for its $30 billion in domestic investments but it’s a start.
Pair that $8.5 billion with job cuts and Intel thinks it’s going to be in good health. I mean it won’t be, but they can pretend they are for awhile!
This is not investment advice but rather commentary about Intel. If you want investment advice see a financial advisor.