Intel shares rose sharply Tuesday following a series of positive developments for the chipmaker.
Northland Securities upgraded the stock to Outperform from Market Perform. The firm established a new price target of $120. This upgrade reflects growing confidence in the company's turnaround progress and its foundry business.
A DigiTimes report indicates Intel plans to raise personal computer CPU prices by approximately 10% in early October. This reported increase follows a series of similar hikes. The strategy suggests Intel is prioritizing gross margin expansion over market share amid high supply chain costs and strong demand.