Intel Rallies 10.6% as Foundry Adds Packaging Veteran
Intel jumped 10.64% Thursday after naming Seok-Hee Lee EVP of Intel Foundry to lead advanced packaging, as chip stocks rallied.
Intel jumped 10.64% Thursday after naming Seok-Hee Lee EVP of Intel Foundry to lead advanced packaging, as chip stocks rallied.
Intel said its 18A-P node entered risk production at the VLSI Symposium, but INTC fell 8.45% to $117.05 as a 217% YTD run met a stretched consensus.
Bank of America delivered a rare double upgrade to Intel, lifting its target to $135 and sizing the AI server-CPU TAM at $170 billion by 2030. INTC jumped 6%.
Chips snap back: Intel +6.4%, AMD +8.3%, ARM +15.6%, lifted by BofA’s $125B server-CPU call with Nvidia earnings on deck.
Intel jumped 14% on record volume Friday after the WSJ reported Apple and Intel reached a preliminary agreement for Intel to manufacture Apple chips — a potential turning point for Intel’s foundry ambitions.
Intel’s stock more than doubled in April 2026 — its best month in 55 years — as Q1 earnings beat expectations and AI server CPU demand rewrites the semiconductor narrative.