{"id":58885,"date":"2023-09-09T08:21:23","date_gmt":"2023-09-09T12:21:23","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/intel-poised-as-domestic-winner-for-semiconductor-fabs-if-u-s-china-trade-war-gets-hotter\/"},"modified":"2023-09-09T08:21:26","modified_gmt":"2023-09-09T12:21:26","slug":"intel-poised-as-domestic-winner-for-semiconductor-fabs-if-u-s-china-trade-war-gets-hotter","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=58885","title":{"rendered":"Intel poised as \u2018domestic winner\u2019 for semiconductor fabs if U.S.-China trade war gets hotter"},"content":{"rendered":"
\n

Intel Corp. shares finished lower Friday, snapping their longest winning streak in nearly three years, but at least one analyst wondered why more investors aren\u2019t bullish on the stock given the chance a trade war between the U.S. and China could disrupt semiconductor \u201cfab\u201d operations in Asia, leaving Intel in a plum production position domestically.<\/p>\n

Intel
\n INTC,
\n -0.45%<\/bg-quote>
\n shares closed down 0.5% at $38.01 Friday, snapping a nine-day winning streak that produced a 17.2% gain. For the holiday-shortened week, however, shares finished up 3.8%, while the PHLX Semiconductor Index
\n SOX
\n finished the week down 3.2%.<\/p>\n

\n

Given the nine-day winning streak, Mizuho analyst Jordan Klein asked in a note earlier Friday: \u201cHow long can long-only managers continue to underweight or avoid INTC?\u201d<\/p>\n

Klein reasoned that Intel, while bruised and battered over the past few years, is still a $160-billion-market-cap stock that\u2019s not only up more than 40% year to date, but has outperformed Nvidia Corp.\u2019s
\n NVDA,
\n -1.45%<\/bg-quote>
\n stock by more than 1,000 basis points over the past three weeks. <\/p>\n

The Mizuho analyst also noted that Intel\u2019s 3.2% gain on Thursday versus the PHLX Semiconductor Index\u2019s 2% decline came as China increasingly targets U.S. companies like Apple Inc.
\n AAPL,
\n +0.35%<\/bg-quote>.<\/span>\n <\/p>\n

Read: <\/strong>Here\u2019s why Wall Street may be overreacting about Apple\u2019s China\u2019s challenges<\/p>\n

<\/p>\n

<\/p>\n

<\/p>\n
<\/div>\n<\/figure><\/div>\n

Intel \u201cowning the biggest U.S. semi fab could be increasingly valuable,\u201d Klein said, also pointing out that at least one competitor, GlobalFoundries Inc.
\n GFS,
\n +2.58%<\/bg-quote>,<\/span>
\n rose 1.3% Thursday. On Friday, GlobalFoundries shares finished up 2.6%.<\/p>\n

Read: <\/strong>Intel\u2019s stock logs longest winning streak in nearly 3 years<\/p>\n

Like chip makers Texas Instruments Inc.
\n TXN,
\n -0.03%<\/bg-quote>
\n and Micron Technology Inc.
\n MU,
\n +0.44%<\/bg-quote>,<\/span>
\n Intel operates fabrication facilities known as \u201cfabs\u201d that etch designs of nanometer-sized transistors onto silicon disks that become finished semiconductors. Many chip makers, however, like Advanced Micro Devices Inc.
\n AMD,
\n -0.47%<\/bg-quote>
\n and Nvidia, as well as companies like Apple that design their own chips, are \u201cfabless,\u201d meaning they rely on third-party fabs like Taiwan Semiconductor Manufacturing Co.
\n TSM,
\n -0.46%<\/bg-quote>,<\/span>
\n SK Hynix Inc.
\n 000660,
\n -4.05%<\/bg-quote>
\n and Samsung Electronics Co.
\n 005930,
\n -0.14%<\/bg-quote>
\n to make the physical chips.<\/p>\n

While TSMC has moved to open fabs in the U.S., the bulk of its facilities are in Taiwan and China. As evidenced during the COVID pandemic and related China shutdowns, any disruption of the semiconductor supply chain in Asia can have far-reaching consequences for an industry that relies on chips. In fact, Intel recently moved into the third-party fab business with Intel Foundry Services, but the business arm has yet to name a high-profile customer.<\/p>\n

Read from December: <\/strong>Apple, AMD confirm they\u2019re among TSMC\u2019s first Arizona customers, while Intel preps for return to cutting edge in 2023<\/p>\n

Klein admitted that Intel\u2019s management and stock performance \u201cstill has a long road ahead to fully convince a highly skeptical [long-only] investor community, but I hear more and more hedge funds buying into this rally on view it\u2019s a safe place to hide into Sept. [third quarter] results,\u201d Klein said, especially as a \u201cperceived \u2018domestic semi winner\u2019 if U.S.-China trade war intensifies.\u201d <\/p>\n

Of the 44 analysts who cover Intel, nine have buy ratings, 28 have hold ratings, and seven have sell ratings, along with an average price target of $36.91.<\/p>\n

Read also: <\/strong>Intel gets surprise data-center tailwind as it looks toward \u2018meaningful\u2019 AI growth next year<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Intel Corp. shares finished lower Friday, snapping their longest winning streak in nearly three years, but at least one analyst wondered why more investors aren\u2019t bullish on the stock given the chance a trade war between the U.S. and China could disrupt semiconductor \u201cfab\u201d operations in Asia, leaving Intel in a plum production position domestically. […]<\/p>\n","protected":false},"author":1,"featured_media":23654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-58885","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nIntel poised as \u2018domestic winner\u2019 for semiconductor fabs if U.S.-China trade war gets hotter | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Intel Corp. shares finished lower Friday, snapping their longest winning streak in nearly three years, but at least one analyst wondered why more\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=58885\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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