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Intel Corp INTC

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We Approve of Intel's CEO Transition to Its Former CTO; Shares Remain Undervalued

Abhinav Davuluri, CFA Sector Strategist

Analyst Note

| Abhinav Davuluri, CFA |

On Jan. 13, Intel announced that Pat Gelsinger will replace Bob Swan as CEO effective Feb. 15. Gelsinger has a rich technology background, having served as CEO of VMware since 2012 and spending the first 30 years of his career at Intel. At Intel, Gelsinger was the firm’s first chief technology officer and also led 14 different microprocessor programs, including key roles in the Xeon (server) and Core (PC) product families. At VMware, Gelsinger was instrumental in transitioning the firm from a pioneer in data center virtualization into a critical component of cloud infrastructure.

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Company Profile

Business Description

Intel is one of the world's largest chipmakers. It designs and manufactures microprocessors for the global personal computer and data center markets. Intel pioneered the x86 architecture for microprocessors. It was the prime proponent of Moore's law for advances in semiconductor manufacturing, though the firm has recently faced manufacturing delays. While Intel's server processor business has benefited from the shift to the cloud, the firm has also been expanding into new adjacencies as the personal computer market has declined. These include areas such as the Internet of Things, memory, artificial intelligence, and automotive. Intel has been active on the merger and acquisitions front, acquiring Altera, Mobileye, Movidius, and Habana Labs in order to assist its efforts in non-PC arenas.

Contact
2200 Mission College Boulevard
Santa Clara, CA, 95054-1549
T +1 408 765-8080
Sector Technology
Industry Semiconductors
Most Recent Earnings Sep 30, 2020
Fiscal Year End Dec 28, 2020
Stock Type High Yield
Employees 110,800

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