00:00 Speaker A
Intel bucking the downward trend more broadly speaking that we’re seeing in tech, you’re looking at gains of just about 1 and a half percent that move higher coming after Bloomberg reported that Intel is set to receive up to 3 and a half billion dollars in federal grants to make chips for the US military. This is in addition to the potential 8 and a half billion dollars in grants, $11 billion in loans awarded to Intel in March. So when you take a look at exactly what this means, obviously, this would be a welcomed boost for the business. We know that Intel has been struggling struggling a bit to bolster its factory business shares. As a result, have been lagging. You’re looking at a chart right now of the last six months, the stock off just about 53%. If you look since the start of the year, we got a slightly bigger drop of of around just about 60%. So again, Intel taking any sort of good news and big wins when they can find it. You’re looking at a gain of just about 1 and a half percent. When you compare that to the broader downward pressure that we’re seeing across the tech sector there today, you can see Intel really bucking that trend.
01:57 Speaker B
Yeah, I mean, Intel certainly having a tough road as you laid out, Sean, year to date declines of about over 50%. But it’s interesting, I was speaking with uh Chips analyst Patrick Moorehead, who we have on the show all the time about Intel, and he was just saying this is the name that is trading significantly below book value at this point, even if they were to potentially go bankrupt, which is not saying that he is anticipating that shareholders would get a return on their investments. So it’s fascinating to just see the degree of downward pressure on this stock, which certainly had a very impressive run and has now sort of been uh pushed out of the market dominance in terms of uh chips players given the dominance of the giant in the room, Nvidia, of course.