Choppy Near-Term Outlook Doesn’t Dissuade Our Positive Thesis on Intel; Shares Undervalued
Intel reported first-quarter results that were in line with expectations, while reducing its 2019 guidance $2.5 billion to $69 billion (which implies a 3% year-over-year decline). In hindsight, Intel’s prior guidance appears to be somewhat overambitious as it incorporated a substantial uplift in the second half, particularly from the data center group. Given the swath of challenges facing the semiconductor market (including but not limited to: PC CPU supply constraints, inventory builds in smart...Intel is a data-centric company. The company's operating segments are: Data Center Group, which develops platforms for compute, storage, and network functions; Internet of Things Group, which facilitates its customers creating, storing, and processing data; Mobileye, which provides assistance and automation solutions; Non-Volatile Memory Solutions Group, which provides memory and storage products based on Intel? Optane? technology and Intel? 3D NAND technology; Programmable Solutions Group, which provides programmable semiconductors; and Client Computing Group, which connects people to data, allowing each person to focus, create, and engage in ways that unlock their individual potential.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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