Corebridge Financial (CRBG) is stuck in a trading range of between $25 – $30. The deep-value stock is out of favor because of its weak Q2 report.
In Q2, Corebridge posted revenue of $4.18 billion, down by 28.5% Y/Y. The firm ceded its business in Bermuda. It managed its long-term extension in capital management by focusing on the reinsurance business. Sales of fixed and indexed annuities were very strong. It suits customers who have a long-term savings plan.
In the semiconductor sector, Intel (INTC) is not a cheap stock on a forward P/E measure of 84 times. However, the stock price is at lows not seen since 2013. Unlike firms trading at multi-decade lows like Walgreens (WBA) or Dollar General (DG), which closed at 2018 lows, Intel may quickly snap back.
Next month, the chip maker will launch Arrow Lake, a desktop CPU. The firm pushed its release date back by a week, from October 17 to October 24. The firm will launch five models, with the Core Ultra 9 285K at the highest tier.
INTC stock is so cheap that over the weekend, the media reported that Qualcomm (QCOM) expressed interest in buying some or all of the firm. In addition, analysts cited Apollo (APO) had considered investing in the struggling firm. Intel has valuable chip fabs that will come online soon.
