Image source: Intel.

What: Shares of Intel (NASDAQ:INTC) have fallen 6.3% so far in 2016, according to data from S&P Global Market Intelligence. That's well below the 2.3% decline in the S&P 500 market index, leaving us Intel shareholders looking for better days ahead -- or picking up more shares on the cheap.

So what: Intel's decline was punctuated by a pair of earnings reports. In January, a strong fourth-quarter report was paired with disappointing full-year guidance, and share prices fell more than 9% the next day. Another mixed report in April did nothing to cheer investors up, but the January event was the real driver of plunging share prices in the first half of 2016.

INTC Revenue (TTM) Chart

INTC Revenue (TTM) data by YCharts

Now what: Intel keeps issuing soft guidance only to exceed bottom-line estimates when push comes to shove. Moreover, in this "death of the PC" era, the company is growing revenue and cash flows with remarkable consistency.

Intel shares are trading at a modest 13 times trailing free cash flows today. There may be plenty of more exciting high-growth tickers on the market, but very few companies can match Intel's strong fundamentals in the face of challenging market headwinds.

That's why I'm content to hold on to my Intel shares despite their recent lackluster performance, as I see more upside than risk from where we currently stand.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.