Intel (INTC) continues to lag behind its peers in the chip sector, with its stock down nearly 60% year-to-date in 2024.
Ruben Roy, applied technology analyst at Stifel, shares his thoughts on Intel’s future, its place in the AI race, and CEO Patrick Gelsinger’s leadership at the helm.
“I think Pat overestimated the time it would take to do a major restructuring,” Roy tells Yahoo Finance, adding, “There are a lot of moving parts in the manufacturing business. We’ve seen shifts in the timing of when Intel might deploy some of that manufacturing capacity. I think there are still a lot of questions, as I mentioned, about the company’s strategy around AI itself and how it’s going to approach this market that seems to be moving away from them.”
John Vinh, equity analyst at KeyBanc Capital Markets, told Yahoo Finance in an interview in August that Gelsinger was “running out of time” as investors increasingly doubted his ability to drive growth.
Watch the video above to hear Roy’s thoughts on the latest developments in the chip sector.
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This post was written by Daniel A. Nelson
