It's just a matter of time. This is what the Street is waiting for to finally believe in the company's mobile prospects. But by then it will be too late.

Betting on Intel here is about betting on the future. This company is too valuable to be judged solely on a quarter- to-quarter basis.

And let's not forget that management is positioning Intel to capitalize on emerging markets where the company expects to grow better volumes in its chips business. I believe this is a good move, which should help offset near-term headwinds caused by the declining PC market.

In the meantime, I will maintain that Intel has all of the makings of a successful turnaround story -- one that is still growing margins while its core business recovers. I like the progress that the company is making.

For value investors with patience and a high frustration threshold, this is still a good stock to own. And on the basis of improved margin and cash flow, I still project Intel to have a long-term fair market value of $32 a share.

At the time of publication, the author was long AAPL.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.
Richard Saintvilus is a co-founder of StockSaints.com where he serves as CEO and editor-in-chief. After 20 years in the IT industry, including 5 years as a high school computer teacher, Saintvilus decided his second act would be as a stock analyst - bringing logic from an investor's point of view. His goal is to remove the complicated aspect of investing and present it to readers in a way that makes sense.

His background in engineering has provided him with strong analytical skills. That, along with 15 years of trading and investing, has given him the tools needed to assess equities and appraise value. Richard is a Warren Buffett disciple who bases investment decisions on the quality of a company's management, growth aspects, return on equity, and price-to-earnings ratio.

His work has been featured on CNBC, Yahoo! Finance, MSN Money, Forbes, Motley Fool and numerous other outlets.

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