The issue that I believe has been under-appreciated in the market is how impressive Intel's Q1 profit was, given the huge drop in revenue, and also given that Intel did not idle any of its advanced fabs. Even more impressive is that inventory was reduced.
I don't think there is any large industrial company that saw a 35% drop in revenue, that still made a profit. For that reason I think a price for INTC below 15 has become less likely.
I agree with your reasoning that INTC *shouldn't* drop
below $15 again but time and time again reason flies out
the window for any individual stock when the market gets
spooked. I don't see any lack of potential scares and
bad news items in the weeks and months ahead. LOL,
even a surprisingly bad Q1 for AMD could hurt INTC.
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