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Intel Corporation (NASDAQ: INTC), the huge microprocessor company, has held up pretty well in the most recent stock market correction. Despite a good drop in all the major stock indices, Intel budged little -- a sign all the sellers could be done dumping this stock.From Intel's most recent quarterly conference call, what shocked me most was the growth in the demand for microprocessors. The presumption on Wall Street is with Advanced Micro Devices Inc (NASDAQ: AMD) doing an outstanding job coming up with new products the past few years and PC growth moderating considerably, it was hard to see how the chip giant would grow again.
However, the move to notebooks and the use of dual-core processors has created a big uptick in demand. While the per-unit pricing on dual-core processors is considerably less than the traditional single-core processor, the new fabs that Intel has constructed to manufacture these chips allows Intel to produce these chips for considerably less.
While this Fly has been cautious on semiconductors, with Intel apparently a washed out stock, with all the sellers gone, it is a good time to jump into the chip giant. I cannot remember the last time someone mentioned buying Intel's stock. This could be a good contrarian indicator.
My suggestion is to start buying Intel's stock and ride the seasonal up tick in demand.
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