According to CNBC, Melius Research said Intel could see its shares roughly double to $200 over the next two years, helped by potential foundry agreements with Apple and other prominent names. The firm has a buy rating on Intel and a $165 price target, implying about 70% upside from Tuesday's close. Analyst Ben Reitzes said Intel could trade as high as $200 a share if its 14A manufacturing process reaches high-volume production in 2028 with Apple, Tesla and one other hyperscaler committed, and if server CPU pricing, agentic CPU attach and AI PC mix trends hold through 2028. He also said Intel's products earnings could reach $4+ under that scenario. The comments came after Reuters reported Wednesday that Intel is considering a deal to help SK Hynix manufacture memory chips in the U.S. for the first time, with SK Hynix potentially leasing part of Intel's Ohio chipmaking facility. Intel shares were up more than 4% on the day, while the iShares Semiconductor ETF (SOXX) rose nearly 2%. Intel has gained about 300% over the past 12 months, but Melius' call runs against Street consensus, with LSEG data showing 15 of 50 analysts rating the stock a buy or strong buy and 33 rating it a hold.