- Citi cut its CY26, CY27 and CY28 EPS estimates for Intel to roughly $0.27, $0.96 and $1.69, and reduced its price target to $100 while maintaining Buy.
- Citi says Intel has more server demand than it can supply, with indicated demand for Clearwater Forest running at about 2.5x Intel's available 2027 supply.
- Citi says 18A yields are improving at a double-digit rate and are ahead of internal expectations, and 18A client CPUs already account for nearly one-third of Intel's client CPU revenue.
- Citi's chart allocates $70 of its $100 Intel value per share to data center and AI, with $19 to PCs, $8 to foundry, $2 to net cash and $1 to other.
Quotes
“70% of Citi's $100 Intel target is data centre / AI.”