Analysts at KeyBanc just upgraded Intel (NASDAQ: INTC | INTC Price Prediction) and Advanced Micro Devices (NASDAQ: AMD) to an overweight rating, noting that both are benefiting from hyperscaler demand. As a result, AMD is up about $7.67 in premarket. INTC is up about $1.80 a share.
The firm raised its price target on INTC.
“Analyst John Vinh pointed out that Intel is largely sold out of server CPUs in 2026 amid outsized data center demand. Given this strength in demand, the company is considering raising its average selling price by 10% to 15%,” according to CNBC.
The firm also raised its AMD target price to $270, expecting its AI graphics processing units to generate about $14 billion to $15 billion in revenue for the year.
Nvidia
Shares of Nvidia (NASDAQ: NVDA) are also on the move after Wolfe reiterated an outperform rating on the stock. The firm noted, “Nvidia is up ‘only’ 36% over the past year, underperforming other AI-related names. We think the reason for underperformance is threefold – the late launch of Blackwell, concerns about the sustainability of AI spending in general, as well as concerns about share losses to custom AI solutions,” as quoted by CNBC.
Fueling excitement, the company is seeing substantial demand for its H200 AI chips.
As noted by CNBC, CEO Jensen Huang on Tuesday said that the company is seeing “very high” customer demand in China for its H200 AI chips, which the U.S. government recently signaled that it would approve for export.
Technically, after catching support at its 50-day moving average, NVDA could climb back to $210. With the AI spending boom showing no signs of cooling, that could happen shortly.
Apple
Shares of Apple (NASDAQ: AAPL) are regaining momentum after JPMorgan reiterated an overweight rating on the stock, noting that it likes Apple’s partnership with Google Gemini.
Reportedly, Apple is joining forces with Google to power its AI features, including a major Siri upgrade set for later this year.
In fact, as noted in a Google press release, “After careful evaluation, Apple determined that Google’s Al technology provides the most capable foundation for Apple Foundation Models and is excited about the innovative new experiences it will unlock for Apple users. Apple Intelligence will continue to run on Apple devices and Private Cloud Compute, while maintaining Apple’s industry-leading privacy standards.”
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