Jan. 22 at 9:20 PM
PickAlpha Midday —
Intel guided Q1 revenue to
$11.7–
$12.7B (midpoint below Street) and signaled near break-even EPS as supply shortages and subpar manufacturing yields limit its ability to meet demand. The setup isn’t “weak demand” — it’s an execution bottleneck after drawing down inventory in Q4, which is exactly the kind of miss that gets punished when a turnaround narrative is priced for perfection.
Tickers:
$INTC,
$AMD,
$QCOM
Here’s what matters: Our view is this is a near-term execution check, not a thesis-break — but the stock won’t get paid until the factory metrics improve. If the next update shows credible yield/throughput improvement and signs of external foundry traction, the dip is buyable. If management keeps explaining shortages without a tight timeline (and margins don’t improve), expect more multiple compression even if demand stays “strong.”
