Overview
- Intel shares jumped nearly 9% and AMD rose more than 6% after the upgrades, with Intel touching its highest level in nearly two years.
- Field checks indicate both companies have largely sold out expected 2026 server-CPU capacity and are considering 10% to 15% price increases.
- KeyBanc raised shipment estimates and said Intel’s 18A process could credibly position it as the No. 2 foundry behind TSMC.
- KeyBanc stands out as the only Visible Alpha–tracked buy on Intel with a $60 target versus a roughly $41 consensus, while AMD retains broader buy support and a $270 target.
- Bank of America offered a counterview with an underperform on Intel at $40 and a buy on AMD at $260, with investors looking to upcoming earnings on Jan. 22 for Intel and Feb. 3 for AMD.