Analysts raise Intel’s target after revising 2030 semiconductor market size to $2.7 trillion from $2.3 trillion amid AI-driven demand.
Bank of America analysts increased Intel’s price target following a revision of the 2030 semiconductor total addressable market to $2.7 trillion from $2.3 trillion. The upgrade reflects optimism about AI-driven growth and Intel’s strategic moves in foundry and partnerships.
Intel stock has surged 263% year-to-date, outperforming the S&P 500’s 8% gain, driven by earnings beats and deals with Apple and Google. Despite a 5% dip to $133.79 amid a tech sector sell-off, analysts see the pullback as temporary.
The firm upgraded INTC to a buy rating on June 11, citing improved foundry prospects and long-term industry tailwinds. The revised TAM underscores confidence in semiconductor demand fueled by AI and cloud infrastructure expansion.