Does Intel Corporation (INTC) Have a Thick Margin of Safety?

Orbis Investment Management, an investment management company, released its “Orbis Global Equity Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy returned 20.8% on a weighted-net basis (1) an attractive absolute return, but underperformed the MSCI World Index, which rose 23.8%. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Orbis Global Equity Strategy featured stocks like Intel Corporation (NASDAQ:INTC) in the fourth quarter 2023 investor letter. Headquartered in Santa Clara, California, Intel Corporation (NASDAQ:INTC) designs, develops, and manufactures computer products and technologies. On March 15, 2024, Intel Corporation (NASDAQ:INTC) stock closed at $42.64 per share. One-month return of Intel Corporation (NASDAQ:INTC) was -2.00%, and its shares gained 46.23% of their value over the last 52 weeks. Intel Corporation (NASDAQ:INTC) has a market capitalization of $180.282 billion.

Orbis Global Equity Strategy stated the following regarding Intel Corporation (NASDAQ:INTC) in its fourth quarter 2023 investor letter:

“Or how the thick margin of safety at Intel Corporation (NASDAQ:INTC), backed by listed stakes and real saleable assets, compares to the slim margin for error at Nvidia, trading at 13 times next year’s projected revenue. That revenue that could be competed away over time, while Intel’s semiconductor “fabs” in the US are increasingly valuable as the east and the west drift further apart.”

A technician soldering components for a semiconductor board.

Intel Corporation (NASDAQ:INTC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Intel Corporation (NASDAQ:INTC) was held by 86 hedge fund portfolios, compared to 70 in the previous quarter, according to our database.

We discussed Intel Corporation (NASDAQ:INTC) in another article and shared the list of best edge computing stocks to buy. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.