JPMorgan Analyst Raises Intel Stock Price Target After Strong Earnings
Intel (INTC) has seen renewed investor optimism after delivering strong second-quarter results and exceeding financial expectations for the seventh consecutive quarter. CEO Lip-Bu Tan highlighted improved revenue, gross margin, and earnings per share during an earnings call, signaling a successful turnaround under his leadership. The data center segment saw particularly robust growth, with sales rising 59% year-over-year to $2.5 billion in operating profit. JPMorgan analyst Harlan Sur responded by nearly doubling his price target for Intel stock from $45 to $85 while maintaining a 'Sell' rating. Despite the higher valuation, Sur's move reflects growing confidence that demand for Intel’s central processing units is surging due to increased needs in AI infrastructure and enterprise computing. The analyst adjustment follows an upward revision of Intel’s third-quarter revenue forecast between $15.8 billion and $16.8 billion—well above expectations. While executives remain cautious, the company acknowledges a significant supply-and-demand imbalance that could support continued growth.
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Topics: AI infrastructure demand earnings beat Intel stock price target change