Intel Corporation (NASDAQ:INTC) ended the year with a ton of baggage and a beaten-down stock price. Shares had given up more than 60% in less than two years, and the chip giant had been under increasing pressure from investors to get it together.
However, it’s looking like shares have managed to put in a low as the bears look to have run out of steam, for now, at least. Let’s see what kind of tailwinds might support the thesis that shares could soon break out.
For starters, Intel is splitting up its graphic chips unit into two to better compete with other big chip names like NVIDIA Corporation (NASDAQ:NVDA) and Advanced Micro Devices, Inc. (NASDAQ:AMD), who together are leading in the AI-based chip industry. For the most part, Wall Street has been happy with this move by leadership, who in the past have come under fire for doing seemingly nothing to arrest the loss of market share.
Raja Koduri, who leads the graphics chip unit at Intel, made the decision. He’d previously led the graphics technology ventures at Apple (NASDAQ:AAPL) and feels like a much-needed safe pair of hands right now to help spark a comeback…