Intel will spin off Altera and list it! What impact will this event have on Intel's stock price? Please list it in the form of an outline.

1. **Introduction to Spinoff and IPO**: Intel has announced the spinoff of its Programmable Solutions Group (PSG), formerly known as Altera, and intends to list the new company independently[^1][^2][^3][^4]. 2. **Impact on Intel's Stock Price**: - **Positive Market Reaction**: The announcement has been met with positive market reactions, indicating investor confidence in the move[^5][^6][^7][^8][^9]. - **Potential for Shareholder Value**: CEO Pat Gelsinger's stated goal of unlocking shareholder value is a positive signal for investors[^15]. - **Strategic Focus on FPGA Market**: The spinoff is expected to allow PSG/Altera to focus solely on the FPGA market, potentially enhancing its competitive edge[^14][^15]. - **Financial Implications**: Analysts have mixed opinions on the financial implications, with some estimating the IPO value of PSG at $20 billion to $25 billion[^12]. - **Intel's Turnaround Effort**: Gelsinger's turnaround efforts and the subsequent spinoff could bolster investor confidence in Intel's future performance[^19]. 3. **Analysts' Perspectives**: - **Varied Opinions**: Analysts have differing views on the spinoff, with some, like J.P. Morgan's Harlan Sur, maintaining a cautious stance[^12]. - **Potential Upside**: Northland Securities' Gus Richard envisions a higher upside potential for Intel's stock price following the spinoff[^12]. 4. **Intel's Stock Performance**: - **Recent Earnings**: Intel's Q1 earnings showed a drop in stock price due to soft Q2 guidance, but the impact was relatively small[^10]. - **Outperformance in Market**: Intel's stock has outperformed the S&P 500 and PHLX Semiconductor indexes[^17]. 5. **Conclusion and Outlook**: - **Strategic Move**: The spinoff of PSG/Altera is a strategic move by Intel to unlock value and strengthen the competitive position of its FPGA business[^15]. - **Market Response**: The positive market response to the announcement suggests that investors believe the spinoff will have a positive impact on Intel's stock price[^5][^6][^7][^8][^9]. - **Future IPO**: The potential for an IPO of PSG/Altera could provide additional upside potential for Intel's stock price[^19]. - **Intel's Strategic Direction**: The spinoff aligns with Intel's strategic focus on its core businesses, which could lead to long-term growth and value creation[^15].