- Intel shares surged 20% last week after reports of possible investments from major tech companies.
- The stock is now up over 70% year-to-date, prompting Wall Street analysts to raise forecasts.
- Intel has held early discussions with Apple about new business opportunities.
- Analysts set $45 as the next resistance level, with $56 as a further target if current trends hold.
- A significant drop could bring Intel stock back to $30 or lower, offering a potential buy point according to some analysts.
Intel shares saw a sharp rise last week, following reports that the company is considering investments from Apple, TSMC, and a major stake from NVIDIA. Wall Street analysts are now watching to see how high the stock could go this week, as investor interest in semiconductor companies continues due to the growth in Artificial Intelligence.
Year-to-date, Intel shares have jumped more than 70%. The positive momentum follows multiple news outlets reporting that Intel held talks with Apple and received backing momentum from Nvidia. Trading volume for the stock has increased, and technical indicators, such as the relative strength index (RSI), remain positive.
According to the New York Times, Apple and Intel have had several discussions, but these talks are described as being in the early stages and may not result in a deal. The companies previously worked together on Thunderbolt technology and Intel was once a major supplier for Apple‘s Mac computers. The relationship ended in 2023.
Analysts highlight $45 as the next resistance point for Intel shares, with a further target of $56 if the bullish trend continues. This price range is significant because it aligns with key support and resistance levels from technical analyses and historic trading patterns. If the stock moves down, analysts say a drop to $30 or even $26 is possible, presenting what some view as a new buying opportunity.
For investors, the $45 mark could represent short-term resistance, and if the price falls, former resistance at $26 could become a support level. The movement of Intel shares will depend on both company-specific news and trends in the broader semiconductor sector.
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