Intel Stock Soars on Apple Chip Deal Report — BofA Says Wall Street May Be Moving Too Fast
Bank of America raised its price target on Intel Corp. sharply, moving it up to $96 from $56, but kept its Underperform rating in place. Analysts flagged the possibility of Intel collaborating on chipmaking with Apple Inc.—though they caution that the stock’s rally has already priced in much of that upside. Their math: if Intel lands roughly 25% of Apple’s chip orders, the resulting foundry revenue could total $10 billion a year by 2030.
