Intel Working Hard on New Mobile Chip
Intel (NASDAQ: INTC ) is accelerating the development of its new mobile chip, according to Digitimes .
Digitimes cites unnamed sources within the PC industry, who claim that the new chips will be released in mid 2013. They will be designed to rival ARM-based processors, which have come to dominate the smartphone and tablet market.
Thus far, 2012 has been an abysmal year for Intel's shareholders. Year-to-date, shares of the chipmaker are down over 20 percent. Compared to the S&P 500, that's an underperformance of about 30 percent, but when put in the context of the broader PC trend it isn't that surprising.
Both Dell (NASDAQ: DELL ) and Hewlett-Packard (NYSE: HPQ ) have seen their shares ravaged, as consumers shift their computing demands away from the PC and laptop market and into the smartphone and tablet space. Intel's 20 percent drop seems minor compared to H-P's 50 percent decline and Dell's almost 40 percent drop.
Intel's chief competitor in the PC/laptop chip market, AMD (NYSE: AMD ), will soon be a penny stock if current trends continue. AMD's stock has slumped more than 60 percent in 2012.
Sentiment: Strong Sell