NEW YORK, Jan 14, 2026, 04:46 (EST) — Premarket
- Intel shares climbed roughly 3.4% in premarket trading, following a 7.3% jump in the previous session.
- KeyBanc upgraded Intel to Overweight, setting a $60 price target, highlighting shortages in server CPU supply and the possibility of higher prices.
- Investors are eyeing Intel’s Jan. 22 earnings for clues on data-center demand and progress with its 18A manufacturing ramp.
Intel Corp shares (INTC) climbed 3.4% to $48.91 in premarket trading Wednesday, adding to a strong rally that lifted the stock the previous day. The stock had closed Tuesday at $47.29, marking a 7.3% gain. (Google)
This rally is crucial as Intel has been working for months to persuade investors that its turnaround is gaining traction—not just in PCs, but also in data centers and contract manufacturing. A new bullish call, coming just ahead of the next earnings report, has the power to quickly change investor positioning.
Server processors hold the real profits. Their margins outpace those of consumer chips, and recently they’ve turned into a barometer for how much more companies will spend on “AI buildout.”
KeyBanc Capital Markets bumped up Intel to Overweight, citing stronger-than-expected data-center demand and tighter memory supply. Analyst John Vinh highlighted “outsized hyperscaler demand” driving up DRAM and NAND prices. He noted Intel is “largely sold out in server CPU in 2026,” with a potential “10–15% ASP increase” — ASP meaning average selling price. (Investing)
Investopedia highlighted KeyBanc as the sole firm tracked by Visible Alpha still issuing a buy rating on Intel—an unusual stance given the stock’s recent conservative outlook. The analysts’ confidence in Intel’s “18A” process, the report said, convinced them the company could realistically become the industry’s second-largest foundry supplier, trailing only Taiwan Semiconductor Manufacturing Co. (Investopedia)
Intel is highlighting its 18A process as a major milestone in its manufacturing roadmap. At CES earlier this month, CEO Lip-Bu Tan confirmed the company “made good on its promise to ship its first products with the 18A manufacturing process in 2025,” specifically pointing to Panther Lake chips, according to Reuters. (Reuters)
It won’t be simple. Intel faces a tough ramp-up, must keep clients on track, and fend off competitors like Advanced Micro Devices. At the same time, foundry giants such as TSMC are pushing hard on technology and volume.
There’s a downside risk too: if server demand drops off quicker than forecast, or the 18A ramp delays, the pricing power story could unravel fast. A tighter memory supply might also hurt PC makers, a key segment for Intel’s client-computing unit.
AMD, also boosted by KeyBanc, barely moved in premarket, slipping roughly 0.4% to $220.17 following a solid day earlier. (Google)
Intel’s quarterly report lands Thursday, Jan. 22, post-close. Investors will zero in on the results and guidance, hunting for confirmation on server chip pricing, manufacturing yields, and early foundry progress. (Business Wire)
