Intel bets big on its future

Article Excerpt

INTEL CORP. $52 is still a buy. The computer chipmaker (Nasdaq symbol INTC; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 4.1 billion; Market cap: $213.2 billion; Price-to-sales ratio: 2.7; Dividend yield: 2.8%; TSINetwork Rating: Above Average; www.intel.com) announced a new strategic plan in 2021, which mainly involves improving its technical expertise and expanding its ability to make chips for other companies. Intel now plans to build two chipmaking plants in Ohio at a cost of $20 billion. These facilities will make its most advanced chips when they begin operating in 2025. This latest investment is in addition to Intel’s previous announcement it will spend $20 billion on two new chipmaking facilities in Arizona. Those new plants should begin operating in 2023. In all, the company now expects to spend $100 billion on new plants. These big investments will help improve the company’s market share, particularly as it expects global chip sales will double to $1 trillion annually by 2030. The stock is also attractive…