• Intel (INTC) stock has been disappointingly range-bound for years.
• The relentless spirit of innovation will help the stock to finally get un-stuck.
• Investors should buy shares of Intel as this might be their last chance to get them at a discount.

Intel (NASDAQ:INTC) is among the world’s most famous microprocessor suppliers. INTC stock is still relatively cheap, and both current and prospective investors should buy at least a few shares now.

No company can rescue the world from tech-component supply issues. Yet, Intel is well-positioned to help solve the “chip crunch” as multiple developed nations struggle with semiconductor shortages.

As we’ll see, innovation will be the key to Intel’s continued profitability. By offering solutions to the world’s problems, Intel will create a win-win scenario for consumers, national economies and, inevitably, its shareholders.

What’s Happening With INTC Stock?

Intel has made it so easy to invest profitably, it’s quite remarkable. It’s not every day that market technicians are given a stock with such a clear-cut and consistent support level.

At least half a dozen times over the past five years, INTC stock has bounced off of the $45 level. There’s no such thing as a guaranteed, hardwood floor in the financial markets, but this support level has been surprisingly reliable.

However, there’s also a stubborn resistance level at $70. Every time the Intel share price gets close to that price, the sellers come rushing in.

Of course, the worldwide microchip shortage made it difficult for INTC stock to break out of its defined range in 2021. Yet, this hasn’t stopped Intel from pushing the envelope as a tech innovator.

For instance, Intel recently launched a $1 billion fund to “support early-stage startups and established companies building disruptive technologies for the foundry ecosystem.”

Clearly, new technologies — including yet-to-be-discovered chip architectures — remain a high priority for Intel. This $1 billion investment is just the beginning, though, as Intel is audaciously pouring much more capital into next-generation tech-component solutions.

Landmark Investments

Indeed, $1 billion is a drop in the bucket compared to the 33+ billion euros, and eventually the 80 billion euros, that Intel plans to invest in top-tier technology.

Believe it or not, Intel intends to invest as much as 80 billion euros in the European Union over the next ten years to support the semiconductor value chain. Targeted areas will include research and development (R&D), manufacturing and packaging technologies.

There will be multiple phases to this grand plan. In the first phase, Intel will develop two first-of-their-kind semiconductor fabs (fabrication facilities) in Magdeburg, Germany.

Intel also plans to double the manufacturing space in an expansion project based in Leixlip, Ireland. Plus, Intel is negotiating to “to enable a state-of-the-art back-end manufacturing facility” in Italy.

Don’t worry — Intel isn’t spending money recklessly on these innovative endeavors. Rest assured, the company still expects to generate revenue of $76 billion in 2022. Moreover, Intel anticipates its year-over-year revenue growth to move into the mid-to-high single-digit percentages in 2023 and 2024.

What You Can Do Now

INTC stock won’t stay range-bound forever. Patience will pay off as Intel remains committed to both revenue generation and game-changing innovation.

At the end of the day, Intel is a terrific problem solver and deserves every tech-market investor’s attention. Thus, owning at least a few shares of Intel is a sensible and forward-thinking thing to do.

On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.