JPMorgan upgraded Intel from Underweight to Neutral, but its $85 price target is still below the $89.85 closing price cited in the report.
This looks more like a reassessment of risk after a decline than confirmation of a recovery. The article, citing the bank’s report, says Intel has fallen about 36% from its June high. Meanwhile, its Data Center and AI business segment generated $2.5 billion in operating profit in the second quarter of 2026, surpassing its Client Computing business for the first time.
What has yet to pass muster is commercial validation of its foundry business. The article says 18A-P has entered risk production, but whether manufacturing progress can translate into external orders remains to be seen.
A brief premarket update also mentioned the rating upgrade; details on profits and process technology mainly come from a retelling of the same report, and have not yet been directly checked against the original report or financial statements. Next, watch customer orders and cash flow: if profits recover before foundry orders materialize, is this upgrade cautious—or has the market already priced in the recovery?
This looks more like a reassessment of risk after a decline than confirmation of a recovery. The article, citing the bank’s report, says Intel has fallen about 36% from its June high. Meanwhile, its Data Center and AI business segment generated $2.5 billion in operating profit in the second quarter of 2026, surpassing its Client Computing business for the first time.
What has yet to pass muster is commercial validation of its foundry business. The article says 18A-P has entered risk production, but whether manufacturing progress can translate into external orders remains to be seen.
A brief premarket update also mentioned the rating upgrade; details on profits and process technology mainly come from a retelling of the same report, and have not yet been directly checked against the original report or financial statements. Next, watch customer orders and cash flow: if profits recover before foundry orders materialize, is this upgrade cautious—or has the market already priced in the recovery?