5 Best Nanotechnology Stocks to Buy Now

3. Intel Corporation (NASDAQ:INTC)

Hedge Fund Holdings: 69

Based in Santa Clara, California, Intel Corp. (NASDAQ:INTC) is an American multinational corporation and technology company. The company’s IBM 2-Nanometer Chip is the world’s smallest processing chip, consisting of more than 50 billion transistors, each the size of roughly five atoms, on a space as big an average fingernail. In Q3 2022, investor interest in Intel Corp. (NASDAQ:INTC) increased as 69 hedge funds held stakes in the semiconductor chip manufacturer, up from 65 in Q2 2022.

Although the company has been undergoing a slump in 2022 due to supply-chain constraints and an unfavorable macroeconomic climate, Intel’s (NASDAQ:INTC) turnaround efforts to maximize revenue and regain market dominance are likely to be successful. Recent shifts in the geopolitical landscape are creating an enormous tailwind for the company. As the U.S, Europe, and India increasingly view China as a threat to their national security values, President Biden has unveiled plans to curb China’s economic, political, and military influence. If a conflict occurs, local semiconductor production will be critical for the West. Under the CHIPS Act, nearly $54 billion in subsidies and $24 billion in tax credits are promised, with Intel (NASDAQ:INTC) expected to capitalize upon at least $10-$15 billion.

Here is what ClearBridge Investments had to say about Intel Corporation (NASDAQ:INTC) in their Q3 2022 investor letter:

“Also on the detractor side, Intel Corporation (NASDAQ:INTC) delivered a disappointing revenue miss and lowered full-year revenue and earnings guidance as COVID-19-driven demand for PCs abated (where Intel enjoys half its sales) and a delay in its flagship Sapphire Rapids CPU hurt its data center business. Despite these issues, we still believe Intel is an economically sensitive turnaround story with substantial upside.”