JPMorgan Raises Intel Target Price to $85 Amid Strong Revenue Outlook

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JPMorgan raised its price target for Intel to $85, up from $45, after the chipmaker surpassed expectations with a stronger-than-anticipated revenue outlook. Intel now forecasts Q3 sales between $15.8 billion and $16.8 billion, with the lower end already exceeding analyst estimates. Growth was largely driven by the data center segment, where sales surged 59% in the prior quarter. The upward revision reflects a positive market outlook for Intel’s recovery, fueled by increased demand in enterprise computing.

BlockBeats report, on July 24, JPMorgan raised its target price for Intel (INTC.O) from $45 to $85.


Previously, Intel released an unexpectedly strong revenue forecast, indicating that a surge in data center spending is helping the chipmaker achieve its long-awaited recovery. The company stated that it expects third-quarter sales to reach $15.8 billion to $16.8 billion. Even the lower end of this range easily surpasses the analyst consensus estimate of $15.1 billion.


This expectation highlights Intel's growing momentum among data center customers, who are urgently in need of chips to meet the demands of artificial intelligence computing. Last quarter, sales in this segment surged by 59%, more than double Intel's overall revenue growth rate.

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