Is Intel Now A Trump Stock? (NASDAQ:INTC)

Benzinga

Benzinga's Premarket Prep team look at Intel after Trump's economic comments.   PreMarket Prep is the #1 go-to source for everything you need to know before the market opens! Join our expert hosts as they break down the latest market trends, analyze key indicators, and provide actionable insights to help you navigate the trading day ahead.

Transcript

00:00There's so many repercussions here. So I don't want to move on from this here yet because there's a lot more repercussions here

00:06We've got Intel trading up here this morning

00:09So you'd expect if it's gonna be a chipwreck Intel's gonna get hit as well

00:13But no Trump commentary here is propping up Intel because one if they're not gonna defend Taiwan clearly in that interview

00:20He's talking more about you know, Taiwan 9,500 miles away. We know who's not 9,500 miles away is Intel

00:28So everybody last night on that Trump commentary was buying Intel trade up over

00:342% last night on the Trump bump for Intel also trading up last night was global foundries

00:40GFS it has leaked back and it's just flat here right now

00:43But you know the question I would pose is Intel now a Trump stock

00:48Because if the administration gets in maybe they're gonna throw more funding at Intel to try to get these chips domestic

00:54It's maybe not a bad idea

00:57You know, it's maybe not a bad idea to build so Intel's been sitting here dog of my portfolio dog of mr

01:03L Conn's portfolio, but we were talking about the stock yesterday saying the charts starting to look somewhat productive here now

01:09I mean, we're on a really disastrous day here

01:11We're gonna get to the overall market in a second

01:13But we're telling you the reasons why the market is down here right now

01:17The question is, you know as a stock like Intel actually see some love today if the market starts to bought like to base

01:23I think Intel's a stock that maybe people start thinking about here again

01:27Now now the foundry business is in very early innings here

01:32this isn't like all of a sudden we can just start producing and match Taiwan semiconductor here, but

01:37With the Trump commentary, it's not gonna hurt a stock like Intel

01:42Yeah, and that might be if Trump doesn't I'm getting elected that could be an interesting, you know political move to I guess

01:49Kind of take credit for bringing chip production back to the u.s

01:52After of course the current administration passed the chip act which is giving billions of dollars to Intel and other u.s

01:58chip manufacturers

01:59so you could say it's a Trump stock you could probably also make an argument that Intel's a Biden stock because of all the

02:04Again money the chip back that that Intel and other u.s. Semi

02:10Conductor companies are set to receive. I mean they're building the new plants right now

02:14But the problem is is when the when the government passes this chips act in

02:182022 that allows for billions of dollars to flow to these companies and it doesn't happen overnight

02:23You know

02:24It takes no takes it takes a while to bring these supply chains and to bring that production back on shore

02:31And again, like the part of it is the geopolitical

02:35You know bringing down that geopolitical risk saying hey

02:38We're gonna be better off next time there is something going on in the world

02:41Whether it be a pandemic whether it be a world war or whatever it is

02:44If we can produce our own chips at home instead of being reliant on another country not to mention the fact that it adds

02:50You know high paying manufacturing jobs to the economy, which is you know a net positive for the economy as well

02:56So at least you know, at least it sounds like Biden and Trump are on board

03:00On the same page with one thing and that's the fact that we should be producing chips

03:04There may be one stock that's got the administration's both administrations backing, you know, obviously we can see Tesla

03:10We've talked about him siding with Trump, but in the case of Biden Intel case the Trump Intel wins now

03:17We should go all Intel. I don't know what I'm doing that Intel still dog. So I'm not sure I'm doing all Intel

03:25Here's the problem with my luck is if I go in a hundred percent Intel knowing that okay Trump wins good Biden wins good for

03:32Intel someone like RFK is gonna win or something in my portfolio is gonna dump

03:37somebody

03:38Somebody off the off the grid comes in here

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