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Intel Stock Still Trades at 84 Times Earnings After a 35% Drop. I'm Not Buying

Analysts with JPMorgan Chase upgraded Intel (NASDAQ: INTC) to neutral from underweight on Monday, Oct. 19, citing growing agentic artificial intelligence (AI) workloads and tight supplies of advanced chips. The chipmaker's stock gained around 2% that day, ending at $92. 03. Even after that bounce, shares are around 35% under their record close of $140. 94 on June 22.

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