If one just looked at the PE then Intel would look cheap, but it's EGF's are horrific which is a function of placing huge bets on new Fab's that will take several years to be built and only then will we know if the bets pay off or not. In terms of Intel's battle against AMD then the spread between the two has narrowed a little but AMD still produces the better chips by some margin that only TSMC can correct for Intel. Intel remains a sleeping giant pending earnings growth, until then the best one can hope for is that it holds the current range in attempts to build a base to recover back above $40. The bottom line is that EGF of -44% and -34% are strongly pointing to another bad earnings report on the upside everyone is now conditioned to expect bad earnings from Intel so the bad news is already baked in which means it would only take a glimmer of hope to fuel a rally in this sleeping tech giant.

This article is an excerpt from Stock Market Rally Slams into Q4 Earnings Season which was first made available to patrons who support my work.So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $4 per month. https://www.patreon.com/Nadeem_Walayat. Lock it in now as $4 per month as this soon rises to $5 per month.

To get immediate first access to ahead of the curve analysis as my extensive analysis of the stock market illustrates (Stocks Bear Market Max PAIN - Trend Forecast Analysis to Dec 2023 - Part1), that continues on in the comments section of each posted article, all for just 4 bucks per month which is nothing, if you can't afford 4 bucks for month then what you doing reading this article, 4 bucks is nothing, if someone did what I am doing then I would gladly pay 4 bucks for it! Signup for 1 month and you will see what I do cannot be beaten by those who are charging $100 per month! I am too cheap! I am keeping my analysis accessible to all, those willing to learn because where investing is concerned the sooner one gets going the better as portfolios compound over time, 4 dollars month is nothing for what you get access which will soon rise to 5 dollars per month for new patrons so at least give it a try, read the comments, see the depth of analysis and you won't be sorry because i do do my best by my patrons, go the extra mile which you will soon see.

And gain access to the following most recent analysis -

So for immediate first access to to all of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $4 per month. https://www.patreon.com/Nadeem_Walayat that is imminently set to rise to $5 per month for new patrons.

My Main Analysis Schedule:

UK House Prices Trend Forecast - Complete
Stock Market Trend Forecast to December 2023 - Complete
US House Prices Trend Forecast - 50%
Global Housing / Investing Markets - 50%
US Dollar / British Pound Trend Forecasts - 0%
High Risk Stocks Update - Health / Biotech Focus - 0%
State of the Crypto Markets
Gold and Silver Analysis - 0%
How to Get Rich - 90%

Again for immediate access to all my work do consider becoming a Patron by supporting my work for just $4 per month. https://www.patreon.com/Nadeem_Walayat. Lock in now as this increases to $5 per month in the new year.

And ensure you are subscribed to my ALWAYS FREE newsletter for my next in-depth analysis.

Your trim the FOMO rally analyst.

By Nadeem Walayat

http://www.marketoracle.co.uk

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

Only logged in users are allowed to post comments. Register/ Log in

The Market Oracle is a FREE Financial Markets Forecasting & Analysis web-site.
(c) 2005-2024 MarketOracle.co.uk (Market Oracle Ltd) - Market Oracle Ltd asserts copyright on all articles authored by our editorial team and all comments posted. Any and all information provided within the web-site, is for general information purposes only and Market Oracle Ltd do not warrant the accuracy, timeliness or suitability of any information provided on this site. nor is or shall be deemed to constitute, financial or any other advice or recommendation by us. and are also not meant to be investment advice or solicitation or recommendation to establish market positions. We do not give investment advice and our comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to enter into a market position either stock, option, futures contract, bonds, commodity or any other financial instrument at any time. We recommend that independent professional advice is obtained before you make any investment or trading decisions. By using this site you agree to this sites Terms of Use. From time to time we promote or endorse certain products / services that we believe are worthy of your time and attention. In return for that endorsement and only in the cases where you purchase directly though us may we be compensated by the producers of those products.