When people say undervalued in this context, they usually mean it has a low price to earnings ratio. Intel is definitely not that - although it could still be a good bet if you have reason to believe their fortunes will greatly improve in the future. But it wouldn’t be a Buffett target in its current state.
Actually, yes, half a year ago Intel was massively undervalued when you looked at metrics like Price to Book ratio. It still is actually, although not as much.
