Here’s What Bank of America Securities Thinks About Intel (INTC)

Intel Corporation (NASDAQ:INTC) is one of the High Growth Semiconductor Stocks to Buy Now. On June 23, Bank of America Securities raised the firm’s price target on Intel Corporation (NASDAQ:INTC) from $135 to $160 and maintained a Buy rating on the shares.

​The firm noted updating its semiconductor industry models and price objectives to bring them in line with the industry-wide estimates. As per the new model, BofA is more bullish on the semiconductor sector as a whole, as it sees a greater total addressable market. The firm now forecasts the global semiconductor industry will reach $2.7 trillion by 2030, up from a prior estimate of $2.3 trillion.

​The biggest contributors to this upgraded outlook are memory and data center, which are seen as the primary growth engines driving the expansion. Additionally, the firm sees incremental upside from a gradual recovery in the automotive and industrial markets, which have faced cyclical pressure in recent years.

Intel Corporation (NASDAQ:INTC) is a semiconductor company specializing in computing & related end products and services through its CCG, DCAI, and Intel Foundry segments.

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