New York, January 15, 2026, 10:59 EST
- Intel hit $49.78, marking a 52-week peak, boosted by Wall Street’s focus on AI-fueled data-center demand.
- KeyBanc bumped Intel and AMD to overweight, assigning price targets of $60 and $270, pointing to a tight 2026 server CPU supply.
- Analyst John Vinh noted that climbing memory prices, coupled with better Intel manufacturing yields, might strengthen pricing power through 2026.
Intel’s stock climbed to a 52-week peak of $49.78 on Thursday, pushing the chipmaker deeper into the spotlight of the AI sector. 1
This shift is crucial now since the AI expansion isn’t only about flashy accelerators. Data centers still rely heavily on central processing units (CPUs) and memory, where limited supply can push prices across the entire stack.
This week, KeyBanc Capital Markets raised its ratings on Intel and Advanced Micro Devices, citing a surge in demand for server chips used in AI-driven data centers that’s outpacing supply. The firm’s “overweight” rating signals confidence these stocks will outperform their peers. 2
KeyBanc analyst John Vinh reported that a recent trip to Asia revealed “outsized hyperscaler demand” is rattling supply chains and driving up prices for DRAM and NAND, two key memory chip types. He set a $60 price target on Intel, noting the company is “largely sold out” of 2026 server CPU capacity. Vinh also highlighted potential for a “10–15% ASP increase,” meaning higher average selling prices. 3
Vinh highlighted Intel’s upcoming “18A” manufacturing process, noting better yields that are helping boost production of Panther Lake processors. He added that Intel Foundry Services, the contract manufacturing arm, secured Apple as a customer for low-end chips and is in discussions about potential future iPhone projects, based on his supply-chain checks.
KeyBanc set a $270 target on AMD in the same note, highlighting that the company is nearly sold out of server CPUs for 2026. The firm predicts at least 50% growth in AMD’s server CPU business this year and estimates AI-related revenue will reach $14 billion to $15 billion by 2026, fueled by MI355 and MI455 accelerators alongside the Helios platform.
Intel shares jumped over 7% Tuesday following an upgrade. Vinh’s supply-chain checks suggest Intel is “almost sold out for the year” on data-center server CPUs. He pointed to “significant progress” in manufacturing and called the rumored Apple deal Intel’s “first big whale design win.” Neither Intel nor Apple responded to requests for comment, the report said. 4
Intel is set to release its results on January 22. The recent rally has pushed investors to expect clear signals on pricing, server demand, and how quickly the manufacturing turnaround is progressing.
This could unravel quickly. AI data-center budgets might contract sharply, and the pricing narrative based on “sold out” supply could collapse if orders drop or fresh capacity emerges. The Apple involvement is still just analyst speculation, unverified.
Competition isn’t letting up. Nvidia’s GPUs continue to dominate AI model training and deployment, while Taiwan Semiconductor Manufacturing Co. and Samsung hold strong as contract chipmakers—territory Intel aims to reclaim on a large scale.
