5 Hot Tech Stocks To Buy Now

4. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 69    

YTD Perf: 6.92%

3 Month Avg Volume: 38M 

Intel Corporation (NASDAQ:INTC) engages in the design, manufacture, and sale of computer products and technologies worldwide. On January 26, Intel Corporation posted earnings for the fourth quarter of 2022, reporting earnings per share of $0.10, missing market estimates by $0.10. The revenue over the period was $14 billion, down 28.2% compared to the revenue over the same period last year and missing market estimates by $490 million. 

On November 22, Mizuho analyst Vijay Rakesh resumed coverage of Intel Corporation (NASDAQ:INTC) stock with a Neutral rating and $32 price target, noting that the company has seen increased challenges in both the server and PC markets with server CPU ramps delayed to 2023 and softening PC demand.

At the end of the third quarter of 2022, 69 hedge funds in the database of Insider Monkey held stakes worth $1.9 billion in Intel Corporation (NASDAQ:INTC), compared to 65 in the preceding quarter worth $2.5 billion.

In its Q3 2022 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Intel Corporation (NASDAQ:INTC) was one of them. Here is what the fund said:

“Also on the detractor side, Intel Corporation (NASDAQ:INTC) delivered a disappointing revenue miss and lowered full-year revenue and earnings guidance as COVID-19-driven demand for PCs abated (where Intel enjoys half its sales) and a delay in its flagship Sapphire Rapids CPU hurt its data center business. Despite these issues, we still believe Intel is an economically sensitive turnaround story with substantial upside.”