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.
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.
   • Potential for Shareholder Value: CEO Pat Gelsinger's stated goal of unlocking shareholder value is a positive signal for investors.
   • 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.
   • Financial Implications: Analysts have mixed opinions on the financial implications, with some estimating the IPO value of PSG at $20 billion to $25 billion.
   • Intel's Turnaround Effort: Gelsinger's turnaround efforts and the subsequent spinoff could bolster investor confidence in Intel's future performance.
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.
   • Potential Upside: Northland Securities' Gus Richard envisions a higher upside potential for Intel's stock price following the spinoff.
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.
   • Outperformance in Market: Intel's stock has outperformed the S&P 500 and PHLX Semiconductor indexes.
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.
   • 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.
   • Future IPO: The potential for an IPO of PSG/Altera could provide additional upside potential for Intel's stock price.
   • 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.