Intel CEO's Resignation Doesn't Damp Our Positive View on Wide-Moat Intel; Shares Undervalued
On June 21, Intel announced CEO Brian Krzanich has resigned following a prior consensual relationship with an Intel employee, which violates Intel’s "non-fraternization policy" for all managers. CFO Bob Swan will step in as interim CEO while the board of directors conducts a search for a permanent CEO that includes both internal and external candidates. The company also noted its second-quarter sales would be about $16.9 billion, above its guidance of $16.3 billion. Our initial reaction is that ...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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