BofA Raises Intel Target to $96, Underperform

BofA lifted Intel's price target from $56 to $96 but kept an Underperform rating despite the stock's rally.
A preliminary Apple‑Intel foundry agreement could generate about $10 bn annual sales by 2030, roughly 25% of Apple’s chip volume.
Intel shares jumped 13.96% to a record $124.92, extending year‑to‑date gains to nearly 240%.
BofA now forecasts the server CPU market at $120 bn by 2030, yet warns margins and breakeven may be delayed.