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Intel (NASDAQ:INTC) Slips despite New SoC and Construction Plans
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Intel (NASDAQ:INTC) Slips despite New SoC and Construction Plans

Story Highlights

Intel slips despite a new system-on-a-chip (SoC) platform that should help build electric vehicles cheaper.

Intel’s (NASDAQ:INTC) ongoing fight to reclaim market share in the semiconductor space continues apace as it rolls out a new system-on-a-chip (SoC) platform to capture some fresh market attention. It’s also moving forward with its construction plans in Ohio. But not even both of these points together could reverse a slide in Intel share prices in Wednesday afternoon’s trading.

Intel’s new SoC will come as welcome news in the electric vehicle sector, since this one is designed to work with the new transportation technology. One of the big problems that electric vehicles face is their high cost to end users, mostly due to their high cost of construction. But with Intel’s SoC—known as the OLEA U310—that problem may be about to get at least somewhat better.

The OLEA U310 will improve overall electric vehicle performance and design processes as well as offer further services in the design and construction of said vehicles. That should help lower prices and make the models that put the OLEA U310 to use more accessible to end users.

Ohio Drivers, Watch Out Next Week

Meanwhile, if you’re going to be driving in Ohio in the next week or so, be prepared for a less-than-pleasant experience. Reports note that a convoy packing what’s known as a “super load” will be hitting Ohio roads on its way to the upcoming Intel plant in New Albany. This load—a “cold box,” which is a kind of air processor necessary for chip making—measures roughly 280 feet, or about the length of a standard United States football field. It’s the first of four such loads to hit Ohio highways, so be sure to keep your eye out.

Is Intel a Buy, Sell, or Hold?

Turning to Wall Street, analysts have a Hold consensus rating on INTC stock based on three Buys, 26 Holds, and three Sells assigned in the past three months, as indicated by the graphic below. After an 8.79% loss in its share price over the past year, the average INTC price target of $38.02 per share implies 24.74% upside potential.

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