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徐文輝先生 (Tsui Man Fai)

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Company Introduction – Intel. Corp (INTC:US)

Wednesday, April 01, 2020 Views3062

As required by management, this year I will give an introduction on some companies in the assigned sector. The first company I will introduce here is Intel Corp., which has their stock traded in US, Mexico and Chile.


Basic Introduction

Intel Corp. is founded in 1968. The Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Programmable Solutions (PSG), and All Other.


Business Highlights

1. The Corp. has begun shipping 10nm-based 10th generation Intel® CoreTM processors, previously referred to as Ice Lake.

2. The Corp. also began shipping engineering samples of Intel® Agilex™ FPGAs to customers. The 10nm-based FPGAs are used to develop advanced solutions for networking, 5G, and accelerated data analytics.

3. A portfolio of data-centric solutions consisting of 2nd generation Intel® Xeon® Scalable processors, Intel® Optane™ DC memory and storage solutions has introduced, those technologies optimized to extract more value from the data obtained by their users.


Business Performance

In 2019, the Corp. revenue increase 1.7% to 72.0Bil (USD), the growth is mainly driven by the data centric sector (which include the DCG, IOTG, NSG, PSG segments), while the growth of PC centric segment remain flat. The diluted EPS increase 5% to $4.71. The PC-centric (CCG) segment still contribute more than half of the revenue(52%), but the data-centric segment has higher growth potential, the management is focusing on the development of this segment.


Risk and Challenge

1. The highly competitive environment in both PC-centric and data-centric market.

2. R&D progress is the main factor of the company competitiveness; any delay or failure means lag behind with the market competitor will greatly affect performance.

3. The uncertainty of global economic condition may cause reduce on sales.


Market Information

Closing price(10/3/2020): USD$53.98

P/E: 10.81x

P/B: 3.33x

EV/EBITDA: 7.64x

Current ratio: 1.40x

Debt/Equity: 38.33%


Company annual report, 2019



I, Tsui Man Fai, am a licensed person under the Securities and Futures Commission. Until the date this commentary was published, neither I and/or my affiliates are the beneficiary of the securities mentioned herein or are entitled to any financial interests in relation thereto.



This report is produced and is being distributed in Hong Kong by Phillip Securities Group with the Securities and Futures Commission (“SFC”) licence under Phillip Securities (HK) LTD and/ or Phillip Commodities (HK) LTD (“Phillip”). Information contained herein is based on sources that Phillip believed to be accurate. Phillip does not bear responsibility for any loss occasioned by reliance placed upon the contents hereof. The information is for informative purposes only and is not intended to or create/induce the creation of any binding legal relations. The information provided do not constitute investment advice, solicitation, purchase or sell any investment product(s). Investments are subject to investment risks including possible loss of the principal amount invested. You should refer to your Financial Advisor for investment advice based on your investment experience, financial situation, any of your particular needs and risk preference. For details of different product's risks, please visit the Risk Disclosures Statement on Phillip (or employees) may have positions/ interests in relevant investment products. Phillip (or one of its affiliates) may from time to time provide services for, or solicit services or other business from, any company mentioned in this report. The above information is owned by Phillip and protected by copyright and intellectual property Laws. It may not be reproduced, distributed or published for any purpose without prior written consent from Phillip.
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