Intel - shares hit a new 52-week high yesterday. +49% since the beginning of the year.
Intel was acquired on Wednesday by the investment firm Mizuho Securities on Wednesday as it sees improvements in the PC and data center markets.
Analyst Vijay Rakesh raised his rating for Intel shares from "Neutral" to "buy" and raised his price target from 37$ to 50$ (current price: 41$). He pointed out that the company is likely to launch "significant" new server products and a new foundry customer in the next six months. In addition, Rakesh expects the PC and data center markets to experience an "upswing" in 2024.
And as the upcoming demerger (IPO) of the Programmable Solutions Group will add further 17$ per share, and with 2025 likely to be a "key transition year" for Intel's foundry services business, the stock has an implied total of about 84$.
"Arm is now leveraging its state-of-the-art chip design on Intel 18A (Node) and achieving very good performance results with these designs," said Intel CEO Pat Gelsinger. "I want every licensee of Arm chip designs to become our foundry customer in the future. Therefore, the acquisition of Arm's [IP base] opens up many business opportunities for our foundry."
It could be that in the medium term Intel will present a new major customer every few months or weeks for whom Intel will then build chips such as TSMC and Samsung are doing now. Each time, the share price could then receive a boost.
Furthermore, no subsidy money has yet flowed from the US CHIPS Act. According to the Wall Street Journal Intel is the leading contender for the potential receipt of billion $ in U.S. government funding for secure microchip manufacturing facilities for military and intelligence applications.
Intel is currently up 39% in my portfolio.
>> What do you think of the share? Are you also invested?
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