BofA Upgrades Intel to Buy, Citing Potential $40B+ Server Sales & Google TPU Deal
INTC has more than doubled off its 52-week low of $18.965.
Summary
Bank of America upgraded Intel to Buy with a $135 price target, driven by projections of over $40 billion in server CPU sales by 2030 and reports of a potential deal to produce 3-6 million TPUs for Google across 2027-2028. This follows a series of positive developments for Intel, including a significant government investment and a rumored chip manufacturing agreement with Apple. These potential new revenue streams and strategic partnerships are substantial, leading to a 5-10% jump in shares. Traders will be watching for official confirmation of the Google TPU manufacturing deal.
At the time of this announcement, INTC was trading at $118.51 on NASDAQ in the Technology sector, with a market capitalization of approximately $587.8B. The 52-week trading range was $18.97 to $132.75. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.