Intel's earnings took the stock to a new 52-week low. Is it time to buy?
JasonDoiy

Intel (NASDAQ:INTC) dropped last week in the wake of disappointing earnings figures, adding to a decline posted earlier in the year. The results also drove shares to levels last seen in 2017.
With the semiconductor sector set to get government support through the CHIPS Act, has the stock fallen far enough to become a buy?
Intelâs Dismal Earnings
The Patrick Gelsinger-led Intel (INTC) missed Q2 expectations on both top and bottom lines. The company posted non-GAAP EPS of $0.29, below analysts' consensus of $0.70. The figures also came up short for revenue, which fell 17% from last year to reach $2.63B.
The company's guidance also stoked negative sentiment about the stock. INTC anticipates Q3 revenue to be in the range of $15B to $16B, lower than the consensus of $18.67B. 
Commenting on the results, CEO Gelsinger stated that Intel would lower its spending for the remainder of the year, citing ongoing economic weakness. He also noted a 10% decline in the PC market.
Following the poorly received financial figures, INTC dropped almost 9% last Friday. With the retreat, the stock sank to a 52-week low of $35.25. 
Shares have bounced off that low since but remain near $36.40 in Wednesday's intraday action. Bigger picture, the giant tech company has lost about 32% so far in 2022. 
This decline has come amid a general slide in the semiconductor sector. Chip stocks have fallen as rising interest rates have compressed multiples in the tech space and as worries about the global economy have chipped away at demand assumptions.
Given these dynamics, rivals like Advanced Micro Devices (AMD) and NVIDIA Corporation (NVDA) are both down more than 30% in 2022.
AMD released its quarterly results late Tuesday. While the company topped expectations with its Q2 tallies, unimpressive guidance sent the stock lower by more than 1% in Wednesday's intraday trading.
Is INTC a Buy?
There appears to be some uneasiness on Wall Street as it pertains to INTC. The majority of the analysts list the stock as a Hold. In fact, of the 38 analysts surveyed by Seeking Alpha over the past 90 days, 20 of them labeled INTC with this neutral rating.
Meanwhile, five analysts have tagged the stock as a Strong Buy and four have assessed it as a Buy. At the other end of the spectrum, four analysts look at Intel as a Strong Sell and five have given it a Sell rating.
Looking at price targets, analysts have an average figure of $41.35. Some see the stock reaching as high as $72, while others see further declines, issuing a price target of $30 a share.
Seeking Alphaâs Quantitative Ratings also present a neutral stance on the stock, generally considering it a Hold. The system for grading quantifiable measures gave INTC high marks for profitability and valuation, with an A+ and an A- for these categories, respectively.
However, the grades came up short for momentum and growth, these areas received marks of a C- and F, respectively. See breakdown below:

Just as Wall Street seems torn on INTC, so do some of Seeking Alphaâs contributors. SA contributor Bluesea Research views the stock as a Sell, outlining that Intel's recent earnings show that its roadmap does not match reality and believes the company will face massive challenges in the near term.
However, another contributor named The Value Portfolio views INTC as a Buy, arguing that the nearly 50% drop the stock has seen over the past 16 months creates an interesting buying opportunity.