Quick Read – Bank of America double-upgraded Intel and raised AMD’s target, projecting the server CPU market reaches $170 billion by 2030 on agentic AI demand. – Intel’s consensus analyst target of $92 sits well below its current $115 price, while traders also watch NVIDIA for…
mpathy moves. – Both stocks carry betas above 2 and bounced from a Broadcom-triggered selloff, with Intel and AMD still up 216% and 119% year to date. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and AMD didn’t make the cut. Grab the names FREE today
Shares of Intel (NASDAQ:INTC) are up 8% to $115 and change in early Thursday trading, while Advanced Micro Devices (NASDAQ:AMD) stock is rising 4% to $470. Both chip names are rebounding after a rough stretch earlier this week. The catalyst is a bullish Bank of America research note projecting the total addressable market for server CPUs could expand to roughly $170 billion by 2030, fueled by agentic AI workloads.
The call lifted both stocks at the open and is rippling across semiconductor peers. Intel stock now sits well above its 50-day moving average of $90.09, and AMD shares are clawing back ground after a steep pullback into Wednesday. The rebound is also being helped by traders adjusting portfolios ahead of the anticipated SpaceX IPO.