- Intel rose more than 4% while the iShares Semiconductor ETF gained nearly 2% as Melius Research's Ben Reitzes projected a $200 stock price within two years.
- Melius Research has a buy rating and $165 price target on Intel, implying about 70% upside from Tuesday's close.
- Reitzes sees Intel 14A high-volume manufacturing in 2028 with Apple, Tesla and one other hyperscaler as the path to a 4x multiple on the foundry business.
- Reuters reported Intel is considering a deal to let SK Hynix lease part of Intel's Ohio chipmaking facility to manufacture memory chips in the U.S. for the first time.
- Of 50 analysts covering Intel, 15 have buy or strong buy ratings and 33 have hold ratings, per LSEG data.
Quotes
“If 14A takes on high-volume manufacturing in 2028 with Apple, Tesla and one other hyperscaler committed … one could argue it can exit the year worthy of a 4x multiple ... or about $100.”
“If server CPU pricing and the agentic CPU attach hold through 2028 and the AI PC mix keeps client [average selling prices] rising, products earnings of $4+ are the natural outcome”
“Add the two and the stock is $200 within two years, roughly a doubling from here.”
“With one of the best CEOs in the world and great secular tailwinds, we see the execution discount narrowing over the next few years”