5 Best Cheap Stocks to Buy Now

4. Intel Corporation (NASDAQ:INTC)

Forward P/E Ratio: 11.67

Number of Hedge Fund Holders: 65

Intel Corporation (NASDAQ:INTC) is a leading semiconductor company that has seen its stock decline substantially this year.

Despite the slowdown in the PC industry and potentially some other industries, semiconductor companies are spending tens of billions in building new factories that could increase supply.  If demand doesn’t increase as much as expected, oversupply could be another headwind for Intel Corporation (NASDAQ:INTC). Given that competitors have gained market share and Intel Corporation (NASDAQ:INTC) earnings results have come in worse than expected, the stock is near multi-year lows.

Nevertheless, the long term future could be considerably more attractive for Intel Corporation (NASDAQ:INTC) if demand grows as expected due to various secular trends.

As of the end of Q2 2022, 65 of the hedge funds tracked by Insider Monkey owned stakes in Intel Corporation (NASDAQ:INTC). Those stakes held a collective value of over $2.5 billion.