Intel as a long-term investment?

$Intel(INTC.US)$ $Advanced Micro Devices(AMD.US)$ So Intel seems to be one of those tech underdogs who no one thinks will perform well in the future because they haven't been innovative at all in the past few years compared to companies like AMD and such. To me, this looks like a long-term buy opportunity:

- Financials look pretty healthy from what I know.

- 2.80% dividend yield is a big nice-to-have if you're gonna hold the stock patiently for a few years.

- P/E ratio is one of the lowest in the tech market right now, meaning that the company has a lot of room to grow if the expectations become optimistic. And in the case of a market crash, it would be one of the safest bets in the tech market because of its healthy P/E ratio (correct me if I'm wrong on this one).

- They announced an increase in capital spending for the next year, so they are likely trying to get back the ground that they've lost in the innovation sector.

- They're soon going to compete in the GPU market too, so that can't do them any wrong.

My plan would be to hold the stock for a few years and cash in those nice dividends while waiting for the stock to become a growth one. I think Intel has already reached its floor price, and it would be very unlikely that the stock price goes any lower considering that it has strong fundamentals.

What do you think?