Technology / Semiconductor / Internet Research

Nicolas Baratte

Nicolas Baratte has been a financial analyst since 2000, covering the Semiconductor sector and Global Technology. Nicolas has worked on the sell-side for JPMorgan, CLSA. On the buy-side for a Tiger fund and Prudential. Nicolas has covered semiconductors, Asian hardware and components, and the Global Tech supply chain. Nicolas lives mostly in Taiwan, sometimes in France and is in New York regularly.

Intel's Annual Shareholder Meeting Proxy Statement Has A Few Interesting Gems

Intel Vision: Lip Bu Tan's First Keynote As Intel CEO

Intel. Mr. Tan's Greatest Challenge Is Not Process Or Foundry Leadership. It's Something Far Bigger

TSMC Takeover of Intel: An Official Denial

Equity Bottom-Up

<ul>
<li>CEO Mr TAN confronts what’s wrong: Intel needs better product performance, to listen to the market needs. Intel needs Foundry processes that support customers’ designs. Not the other way around. </li>
<li>Product presentation very off-base: robotaxi, AI-PC, Gaudi 3 is back as Intel’s AI strategy. Foundry non-announcement: 18A risk production is starting – of course it is, otherwise 18A is flawed. </li>
<li>Consensus is expecting a swift turnaround in 2026-27. There is currently no reason to believe this. On these rosy expectations, the stock trades at 19x 2026 EPS.</li>
</ul>


CEO Mr TAN confronts what’s wrong: Intel needs better product performance, to listen to the market needs. Intel needs Foundry processes that support customers’ designs. Not the other way around. 
Product presentation very off-base: robotaxi, AI-PC, Gaudi 3 is back as Intel’s AI strategy. Foundry non-announcement: 18A risk production is starting – of course it is, otherwise 18A is flawed. 
Consensus is expecting a swift turnaround in 2026-27. There is currently no reason to believe this. On these rosy expectations, the stock trades at 19x 2026 EPS.


Intel Vision Conf: New CEO Mr. TAN Does Not Hide that It Will Be Tough to Fix Intel

Intel Corp

Intel Vision Conf: New CEO Mr. TAN Does Not Hide that It Will Be Tough to Fix Intel