INTCIntel Corporation

What investors said about this company on the podcasts we transcribe, newest first. Bullish means the speaker expects the stock to do well, bearish means they expect it to do badly.

1. Bullish
   Intel: a foundry and CPU play with dramatic upside, still cheap after a 4xCharles Lemonides · Monetary Matters with Jack Farley · 12 Oct 2026

All 1 statement on the Podcast Heatmap

What one share would be worth today and in 12, 24 and 36 months if the company does exactly what its management has promised, next to what a share costs now. Worked out from the targets management gave in its own results decks and earnings calls.

Every target management put in a slide deck, and whether they hit it, missed it, or quietly dropped it.

The quarters are delivered. The years are withdrawn. Seven of seven quarterly revenue outlooks landed above the midpoint, by $0.4-1.8bn. Both misses in the record are annual spending commitments, both the chief financial officer's, and both moved upward inside six months — 2026 operating expenses from $16.0bn to about $16.5bn, and 2026 capital spending from "flat to down" to "more than $20 billion".

The headline from each quarterly results deck over two years, so you can see what they want you to focus on, and when it changes.

on the headline page further in the deck not in the deck▲ onto page one▼ off page one● first mentionTap a mark for the quote.

Shareholder votes against the board and pay, plus which executives have been selling their own shares.

1. Tier 1 · worsening

   Five years of capital spending at 145% of the cash the business generated

   FY21-25 capex $107.9B against $74.3B of operating cash flow, with $16.3B of dividends and $2.4B of buybacks paid out of the deficit — funded by $25.9B of new debt, $6.5-14.6B a year of partner and government capital, and asset sales. ROIC went 12.7% to -1.4%; the incremental return on the $27.4B added is about -70%. Revenue over the same five years: $54.2B, $53.1B, $52.9B. Dividend suspended since Q4 '24, no buyback, stock compensation $14.2B.

2. Tier 1 · live

   The largest shareholder is a government department, and the agreement behind it is in court

   433,323,000 shares, 8.4%, with sole voting power, plus warrants over 240,516,150 shares at $20.00 exercisable if Intel ceases to own 51% of Foundry, plus 143M escrowed shares accounted for as a derivative liability that went $2.7B to $15.6B in six months. Intel's own risk factors say the transactions are dilutive, reduce other holders' voting influence, may limit future strategic transactions, and could later be treated as void or voidable. A stockholder derivative suit filed in March 2026 asks a federal court to invalidate the agreement.

3. Tier 2 · live

   The chief accounting officer resigned and the chief financial officer took the role himself

   Scott Gawel resigned as principal accounting officer on 2026-04-24, effective immediately, "to pursue another career opportunity"; David Zinsner assumed the role on top of being chief financial officer, and nothing filed since names a successor. Of the six named executive officers in the 2026 proxy, three have gone in fifteen months: the chief commercial officer (Jun '25), the chief executive of Intel Products (Mar '26) and the chief legal officer (Jun '26, with severance).

4. Tier 2 · stable

   $93.0M for the chief executive in a year with an operating loss

   Tan's FY25 total was $92,990,900, almost all new-hire and annual equity, in a year of $52.9B of revenue, a $2,214M operating loss and no dividend. The two pay items drew the two biggest protests of the eight at the May '26 meeting: 13.1% against the pay report and 15.7% against the amended equity plan. All fifteen directors and officers own about 0.05% of the company between them, and of the four insider trades in a year none of the sale value was under a pre-set plan.

5. Tier 2 · worsening

   Four earnings-quality flags, three measures withdrawn, and the SEC staff moved an accounting treatment

   A new FY25 add-back that removes the Escrowed Shares mark — an add-back geared to Intel's own share price; restructuring in a third straight year; stock compensation of $2,434M against negative adjusted free cash flow of -$1,612M; and that cash-flow measure struck after $1,577M of government incentives and $4,891M of net partner contributions. The Q3 '25 accounting for the government agreement was adjusted after consultation with the SEC staff, which Intel judged immaterial. The three measures that stopped include the full-year capex and opex reconciliation — the one that would have held management to the two spending commitments it then moved.