Intel: The Easy Money Is Gone

Intel: The Easy Money Is Gone
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Summary
Intel Corporation is repurchasing its stake in Ireland Fab 34 from Apollo for $14.2B, citing strategic urgency for CPU supply, and the market is taking it as a win.
There’s no doubt that INTC has come a long way since selling that 49% stake back in 2024. There is also little doubt that Mr. Market priced in the turnaround.
We think Intel’s foundry potential and restructuring plan have been baked into the stock at current levels, but a lot still rides on execution.
INTC stock is moving on speculative momentum, which places it in a higher-risk bracket given its premium valuation and the lack of a CapEx revision for external customers.
We remain sell-rated on INTC stock and share below what it would take to change our bearish view.
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Intel Corporation (INTC) is back in the headlines this week on news that the company is repurchasing 49% equity interest in its Ireland fab 34 joint venture from Apollo Global (
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