Intel Corporation (INTC): A Bull Case Theory

We came across a bullish thesis on Intel Corporation on R. Dennis’s Substack by OppCost. In this article, we will summarize the bulls’ thesis on INTC. Intel Corporation's share was trading at $48.78 as of January 28th. INTC’s trailing and forward P/E were 88.08 and 85.47 respectively according to Yahoo Finance.

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. A recent large block trade in Intel Corporation (INTC) highlights significant institutional conviction in the company’s financial and operational stability. A sophisticated market participant sold 6,000 contracts of the June 18, 2026, $20.00 put at a $0.33 premium, effectively wagering $12 million in notional exposure that Intel will remain solvent over the next 18 months.

This trade signals confidence in Intel’s tangible book value and liquidation floor, with the $20 strike representing a fundamental support level well below current stock price and book value. The put seller is capitalizing on Portfolio Margin efficiencies while arbitraging the “Catastrophe Premium” priced into deep out-of-the-money options, offering investors a chance to profit from structural mispricing of risk by following a high-conviction institutional strategy.

Intel’s financial position further supports this thesis, with profitability returning in Q3 2025, gross margins recovering to 40%, and a strengthened balance sheet following cost reductions and dividend suspension. Operational validation underpins the trade: the 18A process node shows low defect density, and Intel’s foundry is winning major commitments from Amazon and Microsoft, with potential for Apple engagement.

The risk of stock collapse is mitigated by the hard asset base—including fabs, Mobileye, and Altera stakes—and government support through the CHIPS Act. Investors following this trade can generate a high-probability, uncorrelated income stream using T-Bills as collateral, with potential double-digit returns on margin and limited downside, effectively “renting” the due diligence of a major market participant. This trade represents a rare asymmetric risk/reward setup, making alignment with the Whale a compelling strategy.

Previously, we covered a bullish thesis on Intel Corporation (INTC) by Jellym9s in December 2024, which highlighted the company’s Foundry Services potential, strategic realignment, and ability to leverage U.S. government incentives amid technological and geopolitical challenges. INTC’s stock price has appreciated by approximately 133.17% since our coverage due to optimism around domestic chip manufacturing. OppCost shares a similar thesis but emphasizes the large institutional put trade signaling confidence in Intel’s solvency.

Intel Corporation is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 81 hedge fund portfolios held INTC at the end of the third quarter which was 82 in the previous quarter. While we acknowledge the risk and potential of INTC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than INTC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy NOW 

Disclosure: None.