Intel stock rallies again in wake of upbeat investor event
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One day after Intel (NASDAQ:INTC) hosted an investor event and its shares surged, Wall Street analysts were largely positive about the semiconductor giant's new chipsets designed for data centers.
But, the chip behemoth is still seen as having to play catch up in the artificial intelligence market, and to Nvidia (NVDA), in particular.
Barclay's analyst Blayne Curtis said in a research report that Intel's (INTC) product roadmap "hits the major themes" with products designed for accelerated computing. Among the items that Curtis said are in Intel's (INTC) favor were the company saying it now expects it upcoming Sierra Forest chipset to be delivered in the first half of 2024.
However, Curtis said that nothing Intel (INTC) said boosted sentiment that its upcoming chipsets will make major inroads in AI, and pull large numbers of customers away from Nvidia (NVDA). Curtis said Intel's (INTC) product roadmap "checks [the] boxes, but [we] still see no traction" involving the AI market.
As trading progressed Thursday, Intel (INTC) shares were up by more than 3%, as the company's stock continued to rally after rising almost 8% on Wednesday.
Still, Seeking Alpha contributor The Value Pendulum gave Intel (INTC) upbeat sentiment for the company saying it expects it compounded annual growth rate by 20%, from $40B by the end of 2022, to $110B in 2027.