Good news for chip maker Intel (INTC) investors today as word emerged about just how much connection Intel will have to the 2024 Summer Games. It turns out it’s pretty substantial, and that gave Intel shares a healthy, albeit modest, boost in Thursday afternoon’s trading.
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Naturally, Intel will have a big hand in actually presenting the Olympics to the rest of the world. Its processors will be a big part of the 8K resolution live streaming, giving spectators access to some of the best high-definition streaming we can get right now.
That’s just for starters; Intel will be driving a host of artificial intelligence-backed software systems for athletes and coaches. There will be AI-driven on-site experiences, as well as automation tools for broadcasters and much more. It’s all part of Intel’s “AI Everywhere” program, and marketing-wise, it’s a good idea. Hard to be “AI Everywhere” when you’re not at a major event like the 2024 Summer Games.
Building Tomorrow’s Semiconductor Employees
With Intel looking to go everywhere with AI, it’s going to need to build the next generation of processors and will require a lot more employees. As a result, Intel got together with the State of Arizona to announce a new apprenticeship program geared toward training people in semiconductor work. Those getting in on the program, reports note, will already be Intel full-time employees. Upon completion of a one-year program, they will not only get a certificate but also college credit that can be applied elsewhere.
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 Sell assigned in the past three months, as indicated by the graphic below. After a 2.58% rally in its share price over the past year, the average INTC price target of $38.02 per share implies 9.06% upside potential.
