12 AI Stocks on Analysts’ Radar

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7. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 83

Intel Corporation (NASDAQ:INTC) designs and sells computing hardware, semiconductor products, and AI-driven solutions for various industries. On May 20, Deutsche Bank analyst Ross Seymore resumed coverage on the stock with a “Hold” rating and a price target of $23. The firm noted that patience is still required from investors, warning that the company’s turnover may take some time.

This is because there have been quite a few challenges Intel is facing, including ongoing macroeconomic uncertainty and challenges such as high manufacturing costs and lagging leading-edge products. Seymore believes that these issues are expected to keep pressuring both revenue and profitability in the near term. The analyst did acknowledge Lip-Bu Tan’s entry as CEO, stating that it brings strong tech experience and a customer-focused strategy. Nevertheless, especially in Intel’s foundry business is still likely to be a long and difficult process.

Seymore further added how fixing the product roadmap and regaining competitiveness in chip manufacturing could lead to a substantial financial upside. All in all, the bank is awaiting further information on the new CEO’s strategic plans or signs of progress before it reconsiders its position.

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