2 Reasons Intel (INTC) is Better Positioned Than Investors Think - Northland Capital Markets

February 22, 2022 6:58 AM EST
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Northland Capital Markets analyst Gus Richard reiterated an Outperform rating and $62.00 price target on Intel (NASDAQ: INTC) on the belief that the company's Process Technology is catching up and the Foundry Strategy is better than investors think.

Regarding Process Tech the analyst stated "INTC is already narrowing the gap in process technology and will pull even with TSMC in 2H:23 and accelerate past TSMC in 1H:24, in our opinion. INTC is expected to introduce its ribbon FET transistor technology in CY24. Supporting this view, INTC showed a ribbon FET 20A wafer at its analyst meeting last week and contacts have also confirmed INTC is leading the race to the ribbon FET technology." He went on to note on Foundry "The semiconductor industry is tight on capacity and INTC overbuilt its 14nm network as 10nm was delayed. It is generally a good thing to have excess capacity in a period of shortage, especially as TSMC is aggressively raising prices on leading edge silicon."

For an analyst ratings summary and ratings history on Intel click here. For more ratings news on Intel click here.

Shares of Intel closed at $45.04 yesterday.

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