That sounds like good news — like Intel is moving forward and trying to capitalize on Arya’s “generational capex cycle in generative AI infrastructure” just like TSMC is.

But here’s the thing: Intel actually announced its $28 billion investment in Licking County, Ohio, back in January 2022, and today’s update doesn’t change that announcement at all, nor indicate any acceleration in production or the size of the company’s investment. Rather, according to Intel’s own webpage, the “latest update” on the company’s Ohio plans consists of “Photos and b-roll video of the ‘Ms. Armstrong’ crane [that] were added on Oct. 25, 2024.”

So basically, all Intel said today is that the same production plans that have been in place for the past nearly three years are still in place, and unchanged. That hardly seems like a great reason for Intel stock to be moving higher today, especially considering that with less than $1 billion in annual income, Intel is by far the least profitable of these three semiconductor companies — and the only one burning cash ($12.6 billion over the last 12 months).

Given a choice to invest in any of these three companies, I’d place TSMC stock, at 27 times trailing earnings, cash-rich, and generating copious free cash flow, at the top of the list — and Intel stock way down on the bottom.

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Bank of America is an advertising partner of The Ascent, a Motley Fool company. Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bank of America, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Broadcom and Intel and recommends the following options: short November 2024 $24 calls on Intel. The Motley Fool has a disclosure policy.

Why Intel, Broadcom, and Taiwan Semiconductor Stocks Popped Today was originally published by The Motley Fool