Shares of U.S. semiconductor developer Intel (NASDAQ: INTC) staged a rebound back to pre-pandemic 2019 highs to establish a double peak or a breakout.
April 13, 2021
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This story originally appeared on MarketBeat
United States Semiconductor Developer Intel (NASDAQ: INTC) Stock held a rally back to its pre-2019 yearpandemic highs to establish two highs or breakout. With a long-awaited new CEO, Pat Gelsinger, already installed and plans to build live chip-making factories (FABs) in the US that change the story like a base game. US infrastructure. This strengthened sentiment and performance with more than 37% year-to-date increase in share sales (YTD), not only outperforming, but also uplifting. Nasdaq 100. The Biden infrastructure package seeks to boost the US supply chain from rare earth materials, clean energy to semiconductors. Consider 80% of the world manufacture of semiconductors produced by two foreign companies, Taiwan semiconductor production (NYSE: TSM) and Samsung Electronics (OTCMARKETS: SSLNF). Ice Lake-SP chip rollout is much delayed and plans for Meteor Lake and new research collaborations with IBM (NYSE: IBM) indicates the wake of the sleeping giant. Cautious investors looking for exposure in the US semiconductor infrastructure game may follow Intel’s stock for the level of opportunity retreat.
Company Guide Updates
On March 23, 2021, Intel lifted its 1st quarter 2021 EPS guidance above the previous guide for $ 1.10 vs. consensus analyst estimate of $ 1.11. The company found Q1 2021 revenue for the month ended March 2021 exceeding previous guidelines of $ 17.5 billion compared with consensus analyst estimates of $ 17.59 billion. However, the Company cut its 2021 full-year EPS guidance to reach around $ 4.55 against a consensus estimate of $ 4.74, and reduced 2021 full-year revenue to around $ 72 billion compared to Analysts estimate $ 73.03 billion. While the strength of Q1 2021 was driven by continued strong laptop demand, an industry-wide shortage of third-party components and the uncertainty of legal listings were to blame. leading to a reduction in estimates. CEO Gelsinger stated, “2021 is a transitional year as we accelerate Intel’s trajectory, invest in our future, and improve performance. We are working actively with our supply chain partners and leveraging our unique manufacturing capabilities to address industry-wide component shortages and outperform this guide ”.
On March 23, 2021, Intel CEO Pat Gelsinger, announced the company’s integrated device manufacturing model called IDM 2.0. The company plans to build two new plants in Arizona at a cost of $ 20 billion. This will create 3,000 permanent high-tech jobs with high wages, more than 3,000 construction jobs and about 15,000 long-term local jobs. Arizona Governor Doug Ducey and US Commerce Secretary Gina Raimondo attend IDM 2.0 event. “We are delighted to partner with the state of Arizona and the Biden administration on incentives to promote this kind of investment in the country,” Gelsinger chief executive summarized.
Intel casting services
Intel plans to become a major player and provide foundry capacity in the US and Europe to serve customers globally. The latest Fab, Fab 42, at its Ocotillo campus in Chandler, AZ, has become a fully operational 10nm processor by 2020. Two new fab are planned to be on the Ocotillo campus as well. Construction will begin later this year. The fabs will be part of a new independent business, Intel Foundry Services (IFS), led by Semiconductor veteran Dr Randhir Thakur. The new business will set itself apart from competitors providing processes, packaging and capabilities already committed in the US and Europe. Intel’s IP portfolio available to customers includes x86 cores, ARM, and the RISC-V ecosystem Ips. The company received “enthusiasm and strong claims of support from across the industry.” The company is also expected to include in the compute box for its first 7nm customer CPU, Meteor Lake, in Q2 2021. The downgrade of guidelines for the entire 2021 could be an attempt to set a target Low topic, however, the market is clinging to infrastructure and the story turns around with extremely positive sentiment. Prudent investors will need to manage patience to avoid the urge to chase entries.
INTC opportunity withdrawal level
Use rifle chart Monthly and weekly timeframes provide a broader view of the playing field for INTC stocks. Monthly rifle chart is trending up with 5-period moving average (MA) support rising at $ 59.67 with monthly Bollinger Bands (BB) close to $ 72.03 Fibonacci levels (fib). Monthly Stochastic is still rising across the 60 band. The weekly rifle chart has triggered one Low market structure (MSL) trigger purchases above $ 55.95, while the monthly high market structure (MSH) sells triggers below $ 53.60. The bullish weekly rifle chart is supported by a random small capsule shorts that rise higher towards the weekly upper BB near $ 74.58. Stocks are near their pre-pandemic high, which will form a double high or a breakout. Prudent investors can watch Opportunity pullback levels at $ 65.29 fib, $ 63.53 fib, $ 60.58 fib, $ 58.51 fib and $ 55.95 fib. The bullish trajectories range from $ 78.15 fib up to $ 88.03 fib.