New Street Research upgraded Intel to Buy from Neutral with a $125 price target, days before the company reports third-quarter 2026 results. Analyst Pierre Ferragu said agentic AI is driving sustained growth in server CPU demand, with supply constraints expected to persist for years, while Intel is retiring older nodes and adding capacity. Intel shares rose 5% to $91.36, AMD gained 3% to $532.26 and NVIDIA rose 3% to $216.29, while the iShares Semiconductor ETF (SOXX) climbed 4% to $496.02 and the Invesco QQQ Trust gained 1% to $714.41. Unlike AMD and NVIDIA, which rely on outside manufacturers, Intel designs and makes its own chips and runs a foundry business, so its results are closely tied to plant performance. The bullish case depends on data center demand staying strong, and the article notes that building capacity is costly and only pays off if Intel can produce enough chips to meet demand.
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Related tickers and likely impact
NVDA
▲ Likely positiveNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/23/2026 | 211.00 |
| Change that session | -0.57% |
QQQ
▲ Likely positiveInvesco QQQ Trust
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/23/2026 | 704.39 |
| Change that session | -0.01% |
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