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Intel stock rose some 5% on Monday as Lunar Lake chip gets noticed. Clearbridge Large Cap Value Strategy fund promotes Intel investment. Melius Research predicts return to form for Intel with new AI chip. Market is mixed on Friday as traders await Friday earnings.   Intel (INTC) stock advanced over 5% on Monday as the beaten-down legacy semiconductor is getting a renewed look from Wall Street analysts and institutional investors. The major interest is Intel’s soon-to-be released Lunar Lake chip, which is supposed to carry Intel’s entry into the burgeoning AI laptop market. The stock market overall is mixed on Monday afternoon with many participants waiting on Thursday’s Consumer Price Index (CPI) inflation data and second-quarter bank earnings on Friday. Intel stock news Melius Research analyst Ben Reitzes released a recent report arguing that Intel offers a price-conscious means of gaining exposure to the AI theme. While Nvidia (NVDA), Taiwan Semiconductor (TSM) and Super Micro Computer (SMCI) have received the large majority of share price gains for their seats at the AI table, Reitzes believes that a “catch-up” trade would benefit Intel, Apple (AAPL) and Advanced Micro Devices (AMD) in the second half of the year after being perceived as left behind in the first half. “[Microsoft’s delayed AI Recall feature] should eventually be fixed, so AI ready PCs should get going with the Lunar Lake chip from Intel and Strix Point processor from AMD — resulting in a big lift by” the fourth quarter, wrote Reitzes. Before its recent rebound that began last week, Intel was down by 40% heading into the second half of the year, and it was one of the worst performers in the entire S&P 500 over that period. Because of that general cheapness, Reitzes expects a “seasonal bounce” to come to the rescue. While Intel…

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Filed under: News - @ July 8, 2024 10:18 pm