Intel Corporation’s stock trading at $40.01 on December 1st with trailing P/E of 666.83 and forward P/E of 66.67. Q3 results showed revenue up 3% YoY to $13.7 billion, but stock momentum tied to partnerships and policy support rather than operational improvement.

Q4 outlook signals modest recovery in PCs with revenue decline, despite enthusiasm for Panther Lake launch. Margins show mixed performance, with profitability slipping in some segments. Foundry path to profitability by 2027 looks ambitious amid competition. Intel’s cautious tone reveals a disconnect with market optimism.

Structural risks include China exposure and funding challenges for new nodes. Upside catalysts speculative. Fair value estimate near $26 per share versus current $38. Intel’s resurgence appears more narrative-driven than fundamental, with a downside risk. Previous bullish thesis highlighted turnaround potential and strong positioning in AI and manufacturing, but stock rally also due to Nvidia investment. TechIt_alt shares a more cautious view on Intel’s execution and profitability challenges.

Read more at Yahoo Finance: Intel Corporation (INTC): A Bear Case Theory