Analysts raise 2030 earnings forecast to over $6 per share on strong CPU and foundry growth projections.
Bank of America upgraded Intel Corp to Buy from Underperform and raised its price target to $135 from $96. The move reflects increased confidence in Intel’s ability to capture opportunities in central processing units and contract manufacturing, with 2030 earnings per share now projected to exceed $6, up from $3 to $4 previously.
The firm expects Intel’s server CPU sales to surpass $40 billion by 2030, capturing roughly 25% of a $170 billion addressable market. Foundry revenue is projected to exceed $45 billion, supported by potential engagements with Apple, MediaTek, and ARM-based server CPUs. Recent sign-ups for Intel’s 14A node IP and Terafab partnerships were cited as key drivers for long-term foundry visibility.
Intel shares rose over 5% following the upgrade. Despite a $540 billion market capitalization, the stock remains underowned by institutional investors, with just 16% ownership in the S&P 500 semiconductor and AI infrastructure sector.