By Senad Karaahmetovic
Argus added Intel (NASDAQ:INTC) to its Focus List following the positive roadmap updates shared during March’s webinar focused on artificial intelligence (AI).
Analysts there highlighted that some products are now expected to be delivered ahead of schedule, which is a positive, especially as the chipmaker has a track record of missing targets.
“These actions are meant to reassure investors that Intel is on track in its strategy. Intel maintains valuable franchises in client, data center, and niche markets such as applications acceleration and IoT,” they said.
Even with Intel shares up 24% year-to-date (vs S&P 500 +6.5%), the analysts continue to see an attractive opportunity in the chipmaker.
“We regard INTC as a deep-value opportunity,” they concluded.
Intel stock is down 1% in pre-market Monday after closing at $32.81 on Thursday.