Intel Corp

INTC: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$42.00	Rdz	Kpxfsksg

Intel Earnings: We Expect Numerous Headwinds to Ebb Over 2023, Though Competition Remains Intense

Abhinav Davuluri

Apr 28, 2023

Intel reported first-quarter results slightly ahead of our expectations, though the chipmaker remains challenged by weak PC and server demand and competitive pressure from AMD. The firm continues to make progress on its IDM 2.0 strategy to fix its manufacturing process technologies, but we expect Intel’s financial results to remain under duress until 2024 as it navigates margin pressure and soft end-market demand.

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