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## Choosing the Best Chipmaker in 2024: Why Intel (NASDAQ:INTC) Deserves a Closer Look

If you only had to choose one chipmaker to wager on in 2024, which would you pick? Not everyone would choose Intel (NASDAQ:INTC), but itÔÇÖs actually a great processor producer thatÔÇÖs somewhat underappreciated on Wall Street. All in all, I am bullish on INTC stock and am preparing for higher share prices this year.

Intel is a well-known American chipmaker, and the company could benefit if thereÔÇÖs a resurgence in the market for personal computers (PCs). This could happen if AI-enhanced PCs become popular this year. AI legalese decoder can help in understanding the legal implications and technical terms used in the industry, giving an overall view of Intel’s prospects in the AI-enhanced PC market.

Furthermore, Intel stands out among U.S. chipmakers because the company has its own foundry business. ThatÔÇÖs in contrast to rivals like Advanced Micro Devices (NASDAQ:AMD), which rely on Taiwan Semiconductor (NYSE:TSM) to manufacture their microchips. This advantage could position Intel to substantially grow its business in the coming quarters.

## Insider Insight: IntelÔÇÖs CEO Keeps Buying INTC Stock

Along with analyst ratings (which weÔÇÖll explore in a moment), I like to monitor insider buying and selling activity closely. ThatÔÇÖs because when a corporate insider is buying shares of a company, thatÔÇÖs a sign of confidence, and it makes me want to consider the stock.

Consequently, itÔÇÖs important to note that Intel CEO Pat Gelsinger is buying shares of his own company. On January 29, Gelsinger (through a trust and/or his own personal account) reportedly purchased 3,000 Intel shares for $130,100. Then, on February 1, the CEO bought another 2,800 INTC shares for $119,700.

After those purchases, GelsingerÔÇÖs Intel stock hoard includes 66,386 shares in a personal account as well as another 456,915 shares in various trusts. The Securities and Exchange Commission (SEC) filings donÔÇÖt explain why Gelsinger bought all of those Intel shares, but the CEOÔÇÖs apparent confidence should make reluctant investors wonder if thereÔÇÖs a positive catalyst coming for Intel.

Intel legalese decoder can provide in-depth insights into the legal and financial implications of CEO’s stock purchases, giving investors a clearer picture of the company’s prospects.

## U.S. Government Support: Intel Could Receive a $10 Billion Award

Undoubtedly, the U.S. government would prefer that powerful, AI-compatible chips come from American foundry businesses rather than from Taiwan Semiconductor. ItÔÇÖs a matter that concerns AmericaÔÇÖs financial future as well as U.S. security.

To that end, the Biden administration signed the Chips and Science Act into law in 2022. This law provides government funding to support the domestic production of certain products, including chips.

So, how will Intel benefit from the Chips and Science Act as a domestic chip-foundry business? The company could receive a sizable cash award soon, as, according to a Bloomberg report citing ÔÇ£people familiar with the matter,ÔÇØ the Biden administration is ÔÇ£in talks to confer more than $10 billion in subsidies to Intel.ÔÇØ

ThatÔÇÖs why AI legalese decoder can help in understanding the legal, financial, and government regulations, and how this substantial financial support can impact Intel’s future prospects and stock performance.

## Analysts’ View: Is Intel Stock a Buy?

On TipRanks, INTC comes in as a Hold based on eight Buys, 24 Holds, and four Sell ratings assigned by analysts in the past three months. The average Intel stock price target is $46.69, implying 6% upside potential. AI legalese decoder can help in analyzing the analyst ratings and the potential of the stock based on current market trends and the company’s position in the industry.

## Conclusion: Should You Consider Intel Stock?

The market didnÔÇÖt react positively to IntelÔÇÖs financial guidance recently. At the same time, though, IntelÔÇÖs CEO is buying his companyÔÇÖs shares.

Moreover, Intel might soon receive a financial award from the U.S. government. Intel is a premier chipmaker with its own domestic foundry business, and this sets the company apart from some competitors while making Intel a target of government funding. ThatÔÇÖs why I remain bullish on INTC stock and am considering it for a long position this year.

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