Intel (INTC) has become a big focus on Wall Street. First, it was The Wall Street Journal report that Qualcomm (QCOM) approached the company about a potential takeover bid. That was followed by a Bloomberg report that Apollo Global Management (APO), which is Yahoo’s parent company, was willing to make a multibillion-dollar investment in the chip giant. Spear Invest founder and CIO Ivana Delevska says there are two parts to Intel’s story. One is the foundry business, she describes as “tough” and “requires significant capital investment.” The other part is the processor business, which she thinks could be more easly turned around. Delevska isn’t a fan of the Qualcomm proposal, arguing it would be “pretty difficult” for them to turn Intel’s business around and that there are “better places” for the Qualcomm to focus. She also thinks that the “cash part of this story is pretty important,” given how cash-intensive the foundry business is. Ultimately, she is staying on the sidelines when it comes to Intel because there are better opportunities, saying, “We would only commit capital if we see a clear path towards valuation creation.” Watch the video above to hear what Delevska thinks of Constellation Energy (CEG) and Nvidia (NVDA). For more expert insight and the latest market action, click here to watch this full episode of Market Domination.
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