Intel: The Little AI Engine That Couldn’t

Summary:

  • Intel Corporation’s Q2 2024 results were disappointing, with missed revenues, gross margins, and earnings per share, leading to a suspension of dividend payments.
  • Fitch Ratings downgraded Intel’s Long-Term Issuer Default Rating to ‘BBB+’ from “A-,” citing execution risks and potential negative rating actions.
  • We go over the numbers and tell you why we are not changing our outlook.

Train accident

harmpeti

On our last coverage of Intel Corporation (NASDAQ:INTC) we got booed by the fan club. While they saw the potential of the foundry business, we saw problems galore in the current financials. We explained why the company was likely


Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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