Intel Is Turning Its Foundry Business Into a Subsidiary. Time to Buy?

The brutal sell-off in Intel (NASDAQ: INTC) stock may finally be over. The stock seems to have resurged on news that the company plans to turn its foundry business into a subsidiary. It also expanded its deal with Amazon, inking a new agreement to produce artificial intelligence (AI) chips for Amazon Web Services (AWS). That could transform it into a major player in the AI server chip market.Nonetheless, considering the stock's performance in recent months, one could question whether this recent bounce is a sign that a sustainable recovery for Intel is coming, or if investors should continue to avoid the stock.Without a doubt, Intel has fallen into decline, and its attempted return to prominence under CEO Pat Gelsinger has not gone as planned. The company made ambitious plans to spend tens of billions on new foundries to create a third-party chip manufacturing business that could compete with Taiwan Semiconductor Manufacturing (TSMC) and Samsung.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool