$Intel(INTC)$ Intel’s CES update is a credible operational milestone, but not yet a full investment inflection.
Bullish on the comeback?
The successful ramp of 18A via the Core Ultra Series 3 materially improves Intel’s execution credibility. It reduces the narrative risk around delays and supports its ambition to be both a product and foundry player. That said, this is a proof-of-capability phase, not yet proof-of-dominance. Consistency across yields, power efficiency, and OEM adoption over the next 12 to 18 months will matter more than a single launch.
Buy at USD 40?
At this level, Intel looks fairly valued for a turnaround, not cheap. Upside exists if 18A ramps smoothly and PC share stabilises, but downside remains if margins lag or capex pressures persist. This suits patient investors who can tolerate volatility, rather than momentum buyers.
AMD vs Intel in AI PCs
Near term, AMD retains an edge in performance-per-watt and software ecosystem maturity. Medium term, Intel benefits from scale, OEM relationships, and tighter platform integration. The likely outcome is coexistence, with AMD leading premium efficiency segments and Intel dominating volume PCs.
Bottom line
Intel is repairing trust. The comeback is plausible, but the stock requires execution confirmation, not just technological headlines.
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