Intel scores double upgrade from Bank of America as CPU, foundry outlook brightens

Analysts present task Intel's full calendar twelvemonth 2030 net per stock powerfulness astatine much than $6, up from a anterior estimation of $3 to $4, driven by expectations that agentic CPU income could surpass $40 cardinal and outer foundry gross could transcend $45 cardinal by 2030.

Shares of Intel were up implicit 5% connected Thursday.

Bank of America present expects Intel's server CPU income to scope much than $40 cardinal by 2030, representing astir 25% stock of what it sizes arsenic a $170 billion-plus full addressable market. For its foundry business, the slope flagged imaginable engagements including Apple M-Series wafers, MediaTek TPU wafers, Terafab IP and packaging, ARM-based server CPUs, and borderline AI enlargement into lawsuit computing.

Analysts besides pointed to Intel's caller Cadence "14A node" IP sign-up and Terafab engagements arsenic supportive information points that assistance physique longer-term foundry visibility and a much sustainable IP ecosystem.

The slope flagged Intel's ownership illustration arsenic a imaginable catalyst for further banal gains.

Despite a marketplace capitalization of astir $540 billion, Intel remains the second-least owned semiconductor and AI infrastructure banal successful the S&P 500, with conscionable 16% organization ownership arsenic of May 2026.

Bank of America drew a examination to AMD, wherever ownership roseate astir 1,400 ground points year-over-year to 39% successful May, a play during which AMD shares gained much than 300%.

Key risks to the outlook see intensifying contention from ARM-based and customized spot designs, imaginable moderation successful AI superior expenditure affecting CPU demand, and execution hazard successful some leading-edge plan and foundry operations.