We know that chip stock Intel (INTC) is putting a lot of power into its research and development (R&D) arms lately. This is part of how Intel looks to get out of its recent doldrums and back into the public eye as a true household name once more. To that end, Intel has its eye on a new potential head of R&D, someone who was actually part of one of Intel’s biggest competitors. Intel shares slipped fractionally in Wednesday afternoon’s trading.
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Intel has its eye on Wei-Jen Lo to step in as head of R&D, reports note. Until about three months ago, Lo was the senior vice president of corporate strategy development with his last company. What was his last company? I hope you are sitting down, because it was none other than Taiwan Semiconductor Manufacturing Co. (TSM).
Lo spent 21 years at Taiwan Semiconductor, and interestingly, spent time working at Intel before he made the move to TSM. In fact, reports note, Lo’s management style was derived from what he experienced at Intel. Some believe there are too many factors preventing Lo from working with Intel, including his access to trade secrets and his age. He is currently 75 years old. However, Lo is a United States citizen, and Taiwan Semiconductor would likely have a tough time restricting him accordingly.
“Faith Ecosystem”
Meanwhile, Intel’s former CEO, Pat Gelsinger, is taking on a whole new project: a Christian artificial intelligence. I assure you that you read that correctly. Gelsinger is now in charge of Gloo, a company that works within the “faith ecosystem,” and that some describe as a “Salesforce (CRM) for churches,” offering tools to automate ministry functions and pastoral work.
Gelsinger has been working to bring Christian principles to Silicon Valley, reports note, backed up by a nine-figure war chest and plenty of lobbying firepower. Gelsinger noted, “My life mission has been [to] work on a piece of technology that would improve the quality of life of every human on the planet and hasten the coming of Christ’s return.”
Is Intel a Buy, Hold or Sell?
Turning to Wall Street, analysts have a Hold consensus rating on INTC stock based on two Buys, 24 Holds and six Sells assigned in the past three months, as indicated by the graphic below. After an 86.23% rally in its share price over the past year, the average INTC price target of $34.81 per share implies 16% downside risk.
