A good slate of news for Intel (INTC) gave the chip maker’s stock some extra room to run. M&G PLC, one of the world’s largest asset managers, divested its AT&T (T) shares and reduced its Apple (AAPL) holdings in order to boost its position in chip stocks like Intel, according to recent filings with the Securities and Exchange Commission (SEC). In fact, the asset manager added 579,250 Intel shares, which brings its total to 3.5 million shares.
While there were reasons to cut AT&T loose, like its recent hacking, Apple hit a record high this month. Nevertheless, for some, that might be reason enough to exit a stock. In addition, moving funds into chips, which is an up-and-coming segment thanks to artificial intelligence, does make sense.
Meanwhile, in Intel’s Chip Library
Intel is having a bit of a mixed day when it comes to its chips. It offered up a report saying that the instability issues that have been seen in a lot of desktop chips really don’t apply to Intel’s mobile lineup. Thus, if there’s a problem with a mobile chip, it’s one of a slate of other “common symptoms” that might apply. These include “…a broad range of potential software and hardware issues.”
However, word about how the Intel Arc laptop managed to hold up as a gaming platform proved surprisingly effective. One review with Laptop Magazine noted that the Intel Arc delivered results that “shocked” testers. While it couldn’t deliver the best experience on games like “Forza Horizon 25,” it did still bring out excellent performance for shooters like “Valorant.”
Is Intel a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Hold consensus rating on INTC stock based on three Buys, 24 Holds, and three Sells assigned in the past three months, as indicated by the graphic below. After a 0.12% rally in its share price over the past year, the average INTC price target of $38.02 per share implies 14.73% upside potential.
