Intel Stock Still Trades at 84 Times Earnings After a 35% Drop. I’m Not Buying Yet.
Analysts with JPMorgan Chase upgraded Intel (NASDAQ:INTC) to neutral from underweight on Monday, Oct. 19, citing growing agentic artificial intelligence (AI) workloads and tight supplies of advanced chips. The chipmaker’s stock gained around 2% that day, ending at $92.03.
Even after that bounce, shares are around 35% under their record close of $140.94 on June 22. And most of the drop has happened lately. The stock still closed above $127 as late as Sept. 24.
Sure, an upgrade to neutral isn’t a call to buy, and I wouldn’t buy or sell a stock based on an analyst’s rating anyway. What matters more is how much investors now pay for what Intel earns. And by that measure, the stock has gotten far cheaper than its 35% drop suggests.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.