<p><strong>英特爾</strong>(INTC 1.39%) 近年來面臨着巨大的挑戰。去年不僅出現了數十億美元的虧損，其營收也出現了下降。儘管 530 億美元仍然是一個可觀的收入，但 2024 年的這一數字比英特爾在 2021 年創造的 790 億美元下降了超過 30%。</p>
<p>考慮到其令人擔憂的財務狀況，股票表現不佳也就不足為奇了；在過去五年中，英特爾的市值損失了一半。雖然一些人可能會認為這使得芯片製造商的股票變得便宜，但投資者可能擔心這不過是一個價值陷阱。</p>
<p>然而，最近美國政府宣佈將對這家科技公司持有 10% 的股份，這可能為其運營帶來一些穩定性。這是否會使英特爾成為一個長期持有的更安全的股票？</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzIxOTQvcGVvcGxlLWFncmVlaW5nLW9uLWEtZGVhbC5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzIxOTQvcGVvcGxlLWFncmVlaW5nLW9uLWEtZGVhbC5qcGcmdz03MDA"/></p>
<p>圖片來源：Getty Images。</p>
<h2>為什麼政府投資可能有助於業務</h2>
<p>8 月 22 日，英特爾宣佈與美國政府達成了一項 “歷史性協議”，將之前根據 2022 年《芯片與科學法案》授予英特爾的數十億美元補助金轉化為政府對該公司的約 10% 股權投資。</p>
<p>雖然一些投資者可能擔心這對公司的長期戰略意味着什麼，以及是否會影響決策，但英特爾指出，這項投資將是被動的，政府將 “沒有董事會代表或其他治理或信息權利”。</p>
<p>政府持有英特爾的股份，可能會導致進一步的支持和有利於行業的法規，以幫助業務在長期內取得成功。</p>
<h2>為什麼這項協議可能給投資者帶來虛假的安全感</h2>
<p>從表面上看，一切看起來都很好，擁有一個有影響力且資金雄厚的被動投資者聽起來並不壞。但事情在現實中如何發展可能大相徑庭。例如，上個月，唐納德·特朗普總統呼籲英特爾首席執行官譚立夫辭職，幾天後又對他表示讚賞。</p>
<p>這可能是未來的一個跡象，因為雖然美國政府在英特爾的董事會沒有席位，但這並不意味着特朗普不會通過社交媒體或其他方式進一步影響公司的行動。無論這種影響是否有效，其潛在性都可能對投資者及其對股票的看法產生影響。</p>
<p>另一個需要考慮的因素是下一屆政府可能會發生什麼。聯邦政策可能會發生劇烈變化，這就是為什麼基於對政府行動假設進行投資可能存在風險。</p>
<h2>英特爾仍然是一隻風險股票</h2>
<p>政府作為主要投資者並不會解決英特爾業務相關的問題。該公司仍在盈利能力方面掙扎，距離實現盈虧平衡還有很長的路要走——尤其是在其大力投資於業務增長的努力時。上個季度，其銷售額同比持平，運營利潤率為負 24.7%。</p>
<p>沒有更強的財務狀況和更好的增長前景，誰或什麼在投資英特爾都無關緊要。對於長期投資的投資者來説，基本面和增長前景是最重要的。不幸的是，這些並不是英特爾今天的強項。</p>
<p>目前，精明的投資者應該將英特爾的股票列入觀察名單，而不是購買。這裏仍然存在很大的風險。</p>

英特爾

<p>英特爾面臨重大挑戰，包括數十億美元的虧損以及 2021 年至 2024 年間 30% 的收入下降。儘管最近獲得了政府 10% 的投資，但人們對該公司的長期戰略和盈利能力仍然存在擔憂。政府的被動角色可能無法緩解英特爾持續面臨的困境，因為它仍在與負的運營利潤率和平穩的銷售額作鬥爭。鑑於固有風險和缺乏強勁的增長前景，投資者被建議關注英特爾的股票，而不是購買它</p>

<p><strong>Intel</strong>(INTC 1.39%) has been struggling mightily in recent years. Not only did it post a multibillion-dollar loss last year, but its top line also declined. While $53 billion is still a lot of revenue, that tally from 2024 was down more than 30% from the $79 billion that Intel generated just a few years earlier in 2021.</p>
<div class="lb-trans"><p><strong>英特爾</strong>(INTC 1.39%) 近年來面臨着巨大的挑戰。去年不僅出現了數十億美元的虧損，其營收也出現了下降。儘管 530 億美元仍然是一個可觀的收入，但 2024 年的這一數字比英特爾在 2021 年創造的 790 億美元下降了超過 30%。</p>
</div><p>Unsurprisingly, considering its troubling financials, the stock has been an atrocious holding; Intel has lost half of its value over the past five years. And while some might expect that to have left the chipmaker's stock a cheap buy, investors are likely concerned that it's nothing more than a value trap these days.</p>
<div class="lb-trans"><p>考慮到其令人擔憂的財務狀況，股票表現不佳也就不足為奇了；在過去五年中，英特爾的市值損失了一半。雖然一些人可能會認為這使得芯片製造商的股票變得便宜，但投資者可能擔心這不過是一個價值陷阱。</p>
</div><p>Recently, however, the U.S. government announced it would be taking a 10% stake in the tech company, which could add some stability to its operations. Could this make Intel a safer stock to hold for the long haul?</p>
<div class="lb-trans"><p>然而，最近美國政府宣佈將對這家科技公司持有 10% 的股份，這可能為其運營帶來一些穩定性。這是否會使英特爾成為一個長期持有的更安全的股票？</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzIxOTQvcGVvcGxlLWFncmVlaW5nLW9uLWEtZGVhbC5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F832194%2Fpeople-agreeing-on-a-deal.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>圖片來源：Getty Images。</p>
</div><h2>Why the government investment could help the business</h2>
<div class="lb-trans"><h2>為什麼政府投資可能有助於業務</h2>
</div><p>On Aug. 22, Intel announced a &#34;historic agreement&#34; with the U.S. government that took billions of dollars in grants that previously had been awarded to Intel under the CHIPS and Science Act of 2022 to support its construction of new chip foundries, and converted those funds into payment for a roughly 10% equity stake in the company for the government.</p>
<div class="lb-trans"><p>8 月 22 日，英特爾宣佈與美國政府達成了一項 “歷史性協議”，將之前根據 2022 年《芯片與科學法案》授予英特爾的數十億美元補助金轉化為政府對該公司的約 10% 股權投資。</p>
</div><p>While some investors may worry what this might mean for the company's long-term strategy, and whether it may impact decisions, Intel notes that the investment will be a passive one, and that the government will have &#34;no Board representation or other governance or information rights.&#34;</p>
<div class="lb-trans"><p>雖然一些投資者可能擔心這對公司的長期戰略意味着什麼，以及是否會影響決策，但英特爾指出，這項投資將是被動的，政府將 “沒有董事會代表或其他治理或信息權利”。</p>
</div><p>With the government having a stake in Intel, that may lead to further support and industry-friendly regulations to help the business succeed in the long run.</p>
<div class="lb-trans"><p>政府持有英特爾的股份，可能會導致進一步的支持和有利於行業的法規，以幫助業務在長期內取得成功。</p>
</div><h2>Why the agreement may give investors a false sense of security</h2>
<div class="lb-trans"><h2>為什麼這項協議可能給投資者帶來虛假的安全感</h2>
</div><p>On paper, everything looks fine, and having a passive investor with a lot of influence and money doesn't sound bad at all. But how things play out in reality can be a far different story. Last month, for example, President Donald Trump called for Intel CEO Lip-Bu Tan to resign, only to praise him a few days later.</p>
<div class="lb-trans"><p>從表面上看，一切看起來都很好，擁有一個有影響力且資金雄厚的被動投資者聽起來並不壞。但事情在現實中如何發展可能大相徑庭。例如，上個月，唐納德·特朗普總統呼籲英特爾首席執行官譚立夫辭職，幾天後又對他表示讚賞。</p>
</div><p>This could be a sign of things to come because while the U.S. government may not have a seat on Intel's board, that doesn't mean that Trump won't try to further influence the company's actions through social media or other means. And regardless of whether it works or not, the potential for it to happen can have an impact on investors and their outlook for the stock.</p>
<div class="lb-trans"><p>這可能是未來的一個跡象，因為雖然美國政府在英特爾的董事會沒有席位，但這並不意味着特朗普不會通過社交媒體或其他方式進一步影響公司的行動。無論這種影響是否有效，其潛在性都可能對投資者及其對股票的看法產生影響。</p>
</div><p>Another thing to consider is also what might happen under the next administration. Federal policies can change drastically, which is why investing in a stock based on assumptions about government action can be risky.</p>
<div class="lb-trans"><p>另一個需要考慮的因素是下一屆政府可能會發生什麼。聯邦政策可能會發生劇烈變化，這就是為什麼基於對政府行動假設進行投資可能存在風險。</p>
</div><h2>Intel is still a risky stock to own</h2>
<div class="lb-trans"><h2>英特爾仍然是一隻風險股票</h2>
</div><p>Having the government as a major investor also won't fix the problems related to Intel's business. The company is still struggling with profitability, and it has a long way to go to get back to breakeven -- particularly as it's investing heavily in efforts to grow its business. Last quarter, its sales were flat year over year, and its operating margin was negative 24.7%.</p>
<div class="lb-trans"><p>政府作為主要投資者並不會解決英特爾業務相關的問題。該公司仍在盈利能力方面掙扎，距離實現盈虧平衡還有很長的路要走——尤其是在其大力投資於業務增長的努力時。上個季度，其銷售額同比持平，運營利潤率為負 24.7%。</p>
</div><p>Without stronger financials and better growth prospects, it won't matter who or what is investing in Intel. For investors buying a stock for the long haul, fundamentals and growth prospects matter most. And unfortunately, those aren't Intel's strengths today.</p>
<div class="lb-trans"><p>沒有更強的財務狀況和更好的增長前景，誰或什麼在投資英特爾都無關緊要。對於長期投資的投資者來説，基本面和增長前景是最重要的。不幸的是，這些並不是英特爾今天的強項。</p>
</div><p>For now, savvy investors should keep Intel's stock on their watch lists rather than buying it. There's still a lot of risk here.</p>
<div class="lb-trans"><p>目前，精明的投資者應該將英特爾的股票列入觀察名單，而不是購買。這裏仍然存在很大的風險。</p>
</div>

Does the Government Taking a Stake in Intel Make It a Good Buy Right Now?

- 英特爾在過去幾年面臨鉅額虧損，2024 年收入下降超過 30%。  
- 美國政府以 10% 股權投資英特爾，可能帶來行業支持。  
- 然而，英特爾仍面臨盈利能力問題，投資風險依舊。  

政府入股英特爾是否使其成為當前值得購買的股票？