How Intel's Technology Roadmap And Its Stock May Not Agree In The Near Term
Intel continues a trend of unexciting products, but its stock is looking to regain upside
I'm not exactly a fan of Intel INTC 0.00%↑, and my widdled position of its shares only proves it, but the stock may have exited the penalty box. This doesn't necessarily align with the business fundamentals picture, but like Micron MU 0.00%↑ finding the worst financials with its recent report, Intel may be moving past the dark times.
Now, this doesn't mean Intel's delays and technology issues are all behind it and cleared up. Still, if Intel can maintain its current, albeit weak, technology roadmap (in terms of execution and products), it can stop the bleeding. But, in the near term, I expect Intel's stock to come out of its twenty-dollar hibernation range and make more new year-to-date highs.
However, the roadmap for Intel isn't all that exciting for the next two years.
Intel isn't expected to have any competitive product until 2024. Right now, Sapphire Rapids and, shortly (i.e., this year), Emerald Rapids are meant to get Intel up to bat again. But it's not until Granite Rapids and Sierra Forest in 2024 where Intel thinks it has something to throw back at AMD AMD 0.00%↑ in the data center. This is supposed to reverse the disastrous market share loss to AMD, which stands at 82.4% after taking a beating since Q4 2021, where it stood at 89.3%.
But being up to bat is not the same as swinging and making contact with the ball. It merely gets them in the batting lineup. In Intel terms, 2024 is a mile away, and many "what-ifs" stand between it and a successful launch.