Intel (INTC) continues to fall behind its competitors in the chip sector with its stock down nearly 60% year-to-date in 2024.

Stifel Applied Technology Analyst Ruben Roy gives his thoughts on Intel's future, its place in the AI race, and CEO Patrick Gelsinger's leadership at the helm.

"I think that Pat overestimated the time with which it would take him to kind of complete a large overhaul," Roy tells Yahoo Finance, adding: "There's a lot of moving parts with the manufacturing business. We've seen pushouts in the timing at which Intel is going to potentially put some of this manufacturing capacity to work. I think there's still a lot of questions, like I mentioned, around the company's strategy on AI itself and how it's going to address this market that seems to be moving away from them."

KeyBanc Capital Markets equity research analyst John Vinh told Yahoo Finance in an interview in August that "time is running out" for Gelsinger as investors increasingly question his ability to drive growth.

Watch the video above to hear Roy's take on the latest action from the chips sector.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Daniel A. Nelson