Investment Thesis

Even though, INTC has been a pioneer in Silicon Valley.  However, for the last twenty years, INTC has aimlessly attacked the market and destroyed significant shareholder (ownership) value. 

To maximize the market value of the organization, 

• INTC should merge with AMD because the long-term competitive threat comes from the ARM  chip architecture - not AMD.  

• The combined businesses must be legally split into a Design business and a Manufacturing (foundry) business.  

  • Design should be led by Dr. Lisa Su - CEO AMD​

  • Manufacturing should be led by the most talented, seasoned, engineering executive currently at TSMC, possessing a vision kind of like Dr. Morris Chang coming out of Texas Instruments (TI) after ~25 years.  Apparently, before Dr. Chang left TI, he pitched a bold new business model (the "pure play" foundry) to the leadership of TI - unsuccessfully!

  • Afterwards, the Taiwanese government invited Dr. Chang to visit the island and help the nation develop its tech industry. 

  • The rest is history, because Dr. Chang not only founded TSMC but also built TSMC into the most advanced manufacturer of micro processing chips in the world .