Intel Corporation (NASDAQ: INTC) Stocks rose in trading on Monday. Semiconductor CompanyAramex shares ended the session up 6.2%, according to data from S&P Global Market Intelligence.
Intel shares rose today on positive coverage from an analyst. The chip giant’s stock price also got a boost from excitement surrounding upcoming processors that could boost the company’s position in artificial intelligence and the gaming hardware market.
One analyst believes Intel is the best choice in AI for the second half of 2024
Intel shares rose on Monday on bullish coverage from analyst Ben Retzes of Melius Research. Following the massive gains by Nvidia and other AI companies, Retzes has begun looking at the best AI companies to come in the second half of the year. He believes Intel has what it takes to win.
In particular, Reitzes sees Microsoft’s new AI Recall as a potential driver of demand for Intel. The Recall feature would allow users to easily rewind to earlier points in their PC’s data history, and the analyst believes it could be a meaningful incentive for devices built using Intel’s Lunar Lake CPU line for PCs and mobile. Lunar Lake could debut this year or in early 2025.
Intel is trying to become a bigger player in the GPU space.
Reports also emerged over the weekend that Intel is preparing to launch a new GPU (Graphics Processing Unit) which are set to be manufactured by Semiconductor manufacturing in TaiwanThe Battlemage processor for PCs is said to use TSMC’s 4nm platform and is expected to launch in 2025. The upcoming processor is aimed at the gaming market rather than the data center market that is at the heart of the AI revolution, but investors appear optimistic about Intel’s efforts to expand into the GPU space.
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Keith Noonan The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a position in and recommends Taiwan Semiconductor Manufacturing. The Motley Fool recommends Intel and recommends the following options: Buy $45 shares in January 2025 on Intel and Sell $35 shares in August 2024 on Intel. The Motley Fool has Disclosure Policy.
Why are Intel shares up today? Originally posted by The Motley Fool