Managing Director, Zero One, Zero One

Vincent Fernando, CFA

20 years of experience researching capital markets in Asia and the USA.

Managing Director, Zero One

Intel Vs. TSMC/UMC Long/Short Monitor: Take-Aways from DB Conference & Fireside Chat

Intel Vs. TSMC/​UMC Long/​Short Monitor: Upcoming Intel Conference Catalyst

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Bottom-Up

<ul>
<li>Intel's 3Q22 earnings beat expectations, and the shares reacted positively, rising 10.7%.</li>
<li>The company announced $3bn of cost savings for 2023E and $8-10bn in annual cost savings by 2025E. 2023E earnings guidance will be provided at the company's February Investor Day.</li>
<li>Intel has outperformed TSMC and UMC since our pre-Intel Innovation Conference catalyst piece. Intel could still re-rate further relative to the companies into its next earnings.</li>
</ul>


Intel's 3Q22 earnings beat expectations, and the shares reacted positively, rising 10.7%.
The company announced $3bn of cost savings for 2023E and $8-10bn in annual cost savings by 2025E. 2023E earnings guidance will be provided at the company's February Investor Day.
Intel has outperformed TSMC and UMC since our pre-Intel Innovation Conference catalyst piece. Intel could still re-rate further relative to the companies into its next earnings.


Intel Vs. TSMC/​​​​​UMC Long/​​​​​Short Monitor: Intel Results Drive Share Spike, Still Can Re-Rate

Intel Corp

Intel Vs. TSMC/UMC Long/Short Monitor: Intel Results Drive Share Spike, Still Can Re-Rate

Intel Corp

Intel Vs. TSMC/​​​​​UMC Long/​​​​​Short Monitor: Intel Results Drive Share Spike, Still Can Re-Rate

Intel Vs. TSMC/UMC Long/Short Monitor: Intel Results Drive Share Spike, Still Can Re-Rate