Today's Big 3 focuses on industry leaders in technology, cybersecurity and financials. Joe Tigay joins Rick Ducat and Nicole Petallides to break down the technical trends of Intel (INTC), Palo Alto Networks (PANW), and Berkshire Hathaway (BRK/B).
Intel INTC shares have largely been disappointing in 2024, unable to fully join the semiconductor trade and down more than 50%. Quarterly results have added fuel to the fire sale, with the stock unable to find any meaningful traction post-earnings.
The new Arrow Lake chips are far more energy efficient than their predecessors.
Worldwide shipments of traditional PCs dipped 2.4% year-over-year to 68.8 million units during the third quarter of 2024.
Intel's stock price has experienced significant volatility in 2024.
Intel (INTC) closed at $23.47 in the latest trading session, marking a +0.64% move from the prior day.
In the tech world, Intel Corp INTC is stumbling its way through a corporate reboot, while Oracle Corp ORCL is racing ahead, planting a $6.5 billion artificial intelligence and cloud flag in Malaysia.
The fallen chipmaker still faces fundamental and existential challenges.
These two stocks have traded in opposite directions this year.
Intel just won another multibillion-dollar deal from the CHIPS Act.
Intel's recent 30% dip presents a golden buying opportunity due to its promising turnaround program aiming to improve AI exposure. Wall Street analysts are optimistic about Intel's turnaround, with EPS expected to rebound significantly in 2025 and beyond, driven by AI advancements. Intel's robust R&D budget, custom AI chips, and governmental support under the CHIPS Act position it well against competitors like Nvidia and AMD.
Intel's stock experienced extreme volatility, plummeting nearly 40% before rebounding 21%, only to drop again after disappointing earnings and cost-cutting measures. Despite the volatility, Intel's price to book ratio is at a 30-year low, presenting a compelling value compared to competitors like AMD, QCOM, and TSM. Chart analysis suggests strong potential for upside, with a significant price gap to fill, indicating a possible 29.83% increase from current levels.