TLDR:
- Intel (NASDAQ:INTC) stock surged over 5% on news of potential resurgence in the second half of the year.
- Competitor Advanced Micro Devices’ (NASDAQ:AMD) Ryzen 9 9900X chip poses a threat to Intel, but Intel is making moves to improve its manufacturing capabilities.
It’s been a great day for Intel (NASDAQ:INTC) as the chip stock saw a significant gain in its shares due to positive analyst reports and developments related to its competitors. While Intel has fallen behind in the AI sector compared to companies like Nvidia (NASDAQ:NVDA), a new report suggests a potential turnaround in the second half of the year. On the other hand, AMD’s next-gen Ryzen chip poses a threat to Intel, but Intel’s focus on improving its manufacturing capabilities could help it stay competitive.
Analysts currently have a Hold consensus rating on INTC stock, with a 12.45% upside potential based on the average price target of $38.02 per share. Despite some challenges, Intel’s strategic moves and potential for growth make it an interesting stock to watch in the coming months.