Intel Corp (INTC)

[JJ8]

After a rise of share price from the level of $32 to the $38 area within couple of weeks I see the down move as short term profit taking. However the longer term picture is unchanged. I was tempted as well. This is normal. For long term holding one should not be focused on day to day price changes especially given the economic and geopolitics uncertainties, etc. I understand that depends on one's own approach or style of trading. There is also resistance ahead in the $39-40 level to overcome as I see the charts. The Intel challenges are big.

"Intel (NASDAQ:INTC) – Intel is leading the race to secure billions of dollars in funding for secure microchip production facilities for U.S. military and intelligence use. The facilities aim to reduce dependence on imported chips from East Asia and would be funded by the $53 billion Chips Act from the Biden administration. Additionally, Intel canceled a planned investment in Vietnam that could have nearly doubled its operations in the country. Vietnam was seeking to expand its chip industry, but Intel suspended the expansion plan citing concerns about power supply and excessive bureaucracy."

It appears to me Intel is focused mainly on growth of the company securing funds every way it can to better meet the AI challenge ahead and think it is well qualified and capable.