Edge Computing Market Size and 7 Best Stocks To Buy

5. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 77

Intel Corporation (NASDAQ:INTC) is an American multinational corporation and technology company headquartered in Santa Clara, California. It is one of the world’s leading semiconductor chip manufacturers by revenue and a significant contributor to the advancement of the x86 series of instruction sets, widely used in personal computers. Additionally, the company offers edge computing solutions, including the Intel Smart Edge Open, an open-source Mobile Edge Computing (MEC) toolkit designed to facilitate the efficient and high-performance deployment of edge platforms for applications and network functions.

According to Insider Monkey’s first-quarter database, 77 hedge funds held long positions in Intel Corporation (NASDAQ:INTC), down from 86 in the preceding quarter. William B. Gray’s Orbis Investment Management is the largest stakeholder in the company, with 12.56 million shares valued at $554.8 million.

With that said, the current market climate has presented a new set of challenges for the chipmaker. Recently, the US government halted Intel Corporation (NASDAQ:INTC) from selling processors to China’s Huawei, which was followed by a Stifel analyst’s note lowering the company’s share price target from $45 to $34 while maintaining a Hold rating. Intel Corporation (NASDAQ:INTC) confirmed the license revocation amid a complex global trade environment. Despite this setback, the company has maintained its second-quarter revenue forecast between $12.5 billion and $13.5 billion, though it now expects revenue to fall below the midpoint of this range.