To The Moon

$Intel(INTC)$ appears to be planning for a comeback as shown in the stock price over the last week of trading in 2023. The company develops artificial intelligence compatible chips for personal computers, servers and other applications.

I feel that Intel stock would be interesting to watch for 2024, but if you plan to load up on Intel stock, you might want to look at some challenges Intel is facing

1. Intel still faces fierce competition from highly favored AI chip makers like $Advanced Micro Devices(AMD)$ $Taiwan Semiconductor Manufacturing(TSM)$ and new incumbent, $ARM Holdings Ltd(ARM)$

I would think time will be needed for Intel’s turnaround effort to show results and tractions. But do put Intel in our watchlist as part of technology stock diversification.

Intel Fast and Furious Strategy On AI Processors

No doubt, Intel did not come up as the leader of AI chip markers in 2023, but as Intel unveiled new chips for servers, PCs and more. This would put them back to grow and improve in the AI chip market.

Intel revealed a new lineup of Core Ultra processors for laptops at the company’s AI Everywhere event. The Core Ultra 5 and Core Ultra 7 processor models are already available in new PCs. Intel expects to roll out the Core Ultra 9 processors “ in the coming months,

Intel has also announced that Xeon server chips are updated to use less electricity while boosting performance and memory. Intel’s Ultra Core chips for use in laptops and desktop computers, back to competitive advantage in AI, these Ultra Core chips allow PCs to process AI functions directly. This would mean consumers might consider to take away Nvidia GPU, but we shall see.

To compete directly with its rivals’ AI-compatible chips, Intel has introduced its Gaudi 3 AI accelerators, which is deemed as high-stakes as we will need to look out for experts evaluation on how these chips really perform.

In this article, I would be sharing my model prediction for Intel Stock Price for 2024, the model has taken into consideration of recent news, projected development, industry development as a whole into the prediction.

Do note that this prediction is just a guide for myself to plan my trade on a monthly basis for Intel, but I would think latest news in 2024 still need to be watched and considered carefully.

Intel (INTC) Stock Prediction For 2024

As we could see Intel laid out their strategy with their new AI processors, the model is predicting Intel to open January 2024 at $53.03 with monthly average of $56.27. January trading range is between $49.74 and $66.63, Intel closes at $55.69 with 5.0% change.

Intel continue to see an increase change to 15% for February 2024 when it closes at $64.04 with trading range between $55.69 and $69.16, monthly average came in at $61.15. Intel continue to see gains in March 2024 with 4.9% change when it closes at $67.17 with monthly average of $66.39.

This bring me to share the MRQ prediction for Intel versus the other players in the semiconductor industry, we could see Intel, AMD and Nvidia increase in MRQ where Microchip, $Micron Technology(MU)$ , Nxp and Globalfoundries would see their MRQ decline. in Q1 2024.

Intel begin to see decline in their stock price in April 2024 with a -2.9% change when it traded in the range of $60.01 and $70.45 with monthly average of $65.72, and it is expected to close at $65.23. This could be due to the effect of rate cuts, it might have an impact on exchange rate which Intel would suffer due to their exports or imports of raw materials.

Things start to pick up in May 2024, as Intel is expected to register a 2.3% change with close price of $66.71. Intel would be trading between $61.37 and $72.05 with monthly average of $66.34. The ascend continue for Intel as Intel has a 7.1% change for June 2024 with close price estimated at $71.42, Intel is expected to be trading with a monthly average of $70.24.

Intel continued to give a positive 6.7% change for July 2024 while it traded with a monthly average of $75.01, with an expected close price of $76.21. We saw some decline in August 2024 though still positive at 4.3% where Intel is expected to be trading at a monthly average of $78.65 and close price at $79.46.

In September 2024, Intel is expected to see more decline to 2.6% when monthly average is $81.01. Intel might close $81.52 with trading range between $75 and $88.04. Intel price continue to decline to 0.3% change in October 2024 with close price estimated to be $81.75 with trading range between $75.21 and $88.29 and monthly average at $81.69.

Intel start to show sign of better growth with 3.7% change in November 2024 after its Q3 earnings normally happening near the end of October. Intel is expected to be trading between $78 and $91.56 with a monthly average of $84.02. Intel expected to close above $83 at $84.78.

Model is expecting Intel to give a significant change of 10.7% in December 2024 with close price estimated to be at $93.88. This is above $90, and the trading range has crossed $100 at $84.78 and $101.39, with monthly average of $91.21.

The model is optimistic about Intel’s comeback as we can see that Intel would be navigating some challenging environment, but at the end, we could expect Intel to provide us with some stellar performance towards the end of 2024.

Summary

Intel’s comeback might met with some challenges as we can see that after June, the price change is pretty flat, but in general, we should see a positive reaction to Intel stock price with a strong comeback.

Do remember that there might be events or news which could challenge Intel comeback in 2024, so I will be updating the prediction if there is any events affecting a drastic changes in the prediction data.

Appreciate if you could share your thoughts in the comment section whether you think Intel comeback would be strong and that could be reflected in its stock price in 2024.

@TigerStars @Daily_Discussion @Tiger_Earnings @TigerWire appreciate if you could feature this article so that fellow tiger would benefit from my investing and trading thoughts.

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.