Intel Corporation (NASDAQ:) has been facing a rough patch lately, with its shares dropping to 1997 levels following a dismal earnings report and weak forward guidance. However, this could also signal a buying opportunity for savvy investors.
Despite its struggles to keep up with competitors like NVIDIA (NASDAQ:), Intel’s recent slide may be overdone. The company’s Relative Strength Index (RSI) is at an extremely oversold level, indicating a potential turnaround in the near future.
While Intel’s recent challenges, including missed earnings expectations and cost-saving measures, have spooked investors, some analysts see potential upside in the stock. With price targets above the current trading price, there may be room for growth for risk-averse investors.
Overall, while Intel’s recent performance may be disappointing, there are signs that the stock is undervalued and could present a buying opportunity for those willing to take a chance.