5 Best Blockchain Stocks to Buy

4. Intel Corporation (NASDAQ: INTC)

Number of Hedge Fund Holders: 72

Intel Corporation (NASDAQ: INTC) is a technology company known for its computer chips. However, it also makes solutions that support various other segments such as connected devices and technologies that support cloud services and machine learning, among others.

Alger Spectra Fund, in their Q1 2021 investor letter, mentioned Intel Corporation (NASDAQ: INTC). Here is what Alger Spectra Fund has to say about Intel Corporation in its letter:

“Short exposure to Intel also detracted from performance. Intel designs and manufactures semiconductors for the computing and communications industries. Intel’s proprietary intellectual strength and manufacturing prowess versus the competition is deteriorating, which is causing the company to lose market share and profit opportunities. The short position detracted from portfolio returns as the share price reacted positively to the announcement of Pat Gelsinger being hired as chief executive officer, a stronger-than-anticipated quarterly earnings report driven by unusually robust PC sales that we believe are unsustainable and the unveiling of “Intel Unleashed,” a new long-term program to help improve manufacturing and spur innovation. This program involves opening two fabrication plants in Arizona, which confirms Intel’s commitment to continue as an integrated design manufacturer. Importantly, Intel continues to experience issues with its next generation server chips which are disadvantaging Intel versus the competition.”