Intel Stock Jumps as KeyBanc Sees Tight AI Server Chip Supply
Intel shares jumped 4.9% to $50.38 after KeyBanc raised its price target to $70, citing tighter supply and higher chip prices. The move follows Intel’s $14.2 billion buyback of Apollo’s stake in its Irish Fab 34 venture. First-quarter results are due April 23. Analysts warn that low yields from Intel’s new 18A chip process could pressure margins as the company takes on new debt.