INTEL CORP

Struggling foundry/CPU giant: operating losses, near-collapsed earnings, and massive capex-driven cash burn, partly backstopped by U.S. government agreements.

Strengths

• Positive operating cash flow and adequate liquidity — OCF margin 18.3% (58th), current ratio 2.02
• Government backing — MD&A notes August-2025 U.S. government agreements supporting its position

Risks

• Massive free-cash-flow burn — FCF -$4.95B (1st), FCF margin -9.4% from foundry capex
• Operating losses and earnings collapse — operating margin -4.2%, net income -98.6% (21st)
• Stagnant revenue and gross-margin erosion — revenue -0.5%, gross margin 34.8% (34th) — well below peers

Notable findings

• High convictionHigh conviction — notable institutional holders, insider buying, and a strong balance sheet
• Net lossNet loss (net margin -0.5%)
• Cash burnNegative free cash flow (-4949.0M)
• Exec changeRecent 8-K item 5.02 8-K ↗
• Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, Bridgewater Associates, LP
• Strong balance sheetStrong balance sheet — $37.4B cash & investments, ~30 quarters of runway
• Insider buyingInsider buying — 1 open-market buy(s) by 1 insider(s) (~$249,985, last 6mo) Form 4 ↗
• New fund positionNotable fund(s) opened this quarter: TIGER GLOBAL MANAGEMENT LLC
• Insider sellingInsider selling — 3 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$7M, last 6mo) Form 4 ↗
• Notable holderHeld by 6 notable fund(s): STATE STREET CORP, FMR LLC, CITADEL ADVISORS LLC +3 more (as of 2026-03-31)