Intel Corp

INTC: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$49.00	Zgrt	Zdmvxfphg

Intel Earnings: We’re a Bit More Optimistic About Intel’s Turnaround Plans

Brian Colello

Oct 27, 2023

No-moat Intel reported third-quarter results and provided investors with a fourth-quarter outlook that were ahead of our expectations, as its PC processor business recovers from a previously dreadful demand environment. We raise our fair value estimate to $40 from $35, and even with shares up about 8% after hours, we view shares as slightly undervalued.

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