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Intel's undervaluated, the market value is hardly above the value of assets.
With the new Battlemage CPU, the company made a hit, which shows its engineering potential.
With Intel 3 based processors Sierra Forests and Granite Rapids there is competitive server offering on the market.
Intel 18a is - despite rumors - strong and healthy.
Intel has some strong cards in the technology game like EUV, PowerVia, Foveros, Gate-all-around. There is a good chance to achieve technical leadership or at least parity.
The US government and economy has a strong interest in keeping their only high-end chip producer.
The investment Intel made in its chip technology will start to pay back in the following years.
The market for top level integrated circuits will steadily grow in the future.

I assume that the company will choose a new CIO with a strong foundry business background. It's what Intel needs now.

Contra

Establishing and scaling up an independent foundry business is a huge effort and takes time.
Mishaps with Raptor Lake and Arrow Lake harm Intel's reputation.
Management: Pat Gelsinger sudden sacking just before his efforts started to bring results is embarrassing. There is no clear strategy now.
The times when Intel was clearly ahead of the competition in chip technology are over.

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Disclaimer

The user Csepregi_Horvath_Kristof holds no position in NasdaqGS:INTC. Simply Wall St has no position in any of the companies mentioned. The author of this narrative is not affiliated with, nor authorised by Simply Wall St as a sub-authorised representative. This narrative is general in nature and explores scenarios and estimates created by the author. The narrative does not reflect the opinions of Simply Wall St, and the views expressed are the opinion of the author alone, acting on their own behalf. These scenarios are not indicative of the company's future performance and are exploratory in the ideas they cover. The fair value estimates are estimations only, and does not constitute a recommendation to buy or sell any stock, and they do not take account of your objectives, or your financial situation. Note that the author's analysis may not factor in the latest price-sensitive company announcements or qualitative material.