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Intel Corporation Message Board

  • billy_ray_valentine billy_ray_valentine Dec 17, 2012 3:36 PM Flag

    Intel's Big Buyback Will Roast The Bears

    Intel's Big Buyback Will Roast The Bears
    December 17, 2012 | 3 commentsby: Ashraf Eassa | about: INTC, includes: AMD, ARMH, GOOG, NVDA, QCOM Disclosure: I am long INTC, NVDA, QCOM, MSFT. 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. (More...)
    As one of the few remaining Intel (INTC) bulls these days, it has been interesting to see the smear campaign that the sell-side has been running against shares of the company. During the first half of the year, the sell-side was extremely positive on the stock, with price targets in the $30+ range all over the place. After the stock peaked in May, testing 5 year highs (while at the same time trading at a reasonable valuation), it seemed that any and all negative news was baked in time-and-time again. Support levels were broken, the PC was slowly growing after Q2, and by Q3 it was supposedly coughing up blood after everybody got it into their heads that everyone would be throwing away their PCs for underpowered tablets.

    Of course, with the PC "dying," and with Intel having "missed the boat" on mobile (which seems silly since the "boat" is always coming back every year or two depending on your contract with your carrier), shares of the chip giant are at a mind-boggling bargain. Intel bears will point to the share price's stagnation over the last 10 years while conveniently ignoring the fact that Intel's EPS has been very rapidly growing due to substantial increases in net income as well as a dramatic reduction of share count.

    Sentiment: Buy

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