For a while there, chip stock Intel (INTC) was actually a closely connected part of the Apple (AAPL) ecosystem. Intel chips once showed up in the MacBook Air. Of course, this was quite some time ago, in the era of the Apple Watch Series 5 and the iPhone 11 Pro. In fact, all of these devices are now considered “vintage.” This news hit Intel investors surprisingly hard, and sent Intel shares slumping down modestly in Wednesday afternoon’s trading.
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Apple officially declared these devices “vintage and obsolete,” a development which actually has more impact on repair eligibility than it does on software updates. Apple also, reports noted, updated the status of certain iPhone 8 Plus models, as well as the cellular models of iPad Air 3. The iPad Air 3 models that only use Wi-Fi, meanwhile, remain as normal.
Vintage products have one common point: none of them have been sold in five years. While this does not automatically disqualify those products from repair at Apple Store locations, the repairs are subject to the availability of spare parts.
Ohio Update
Meanwhile, Intel also brought out word about Ohio One, the Ohio project that prompted some to wonder if it had been shut down altogether. That is not the case, reports note, and Intel even has an expected completion date. The bad news for anyone hoping to find work there is that the completion date in question is sometime in 2031.
The project was originally set to open this year, reports noted, but has been delayed twice already. Further, six of the project leaders at Ohio One have departed the company altogether. But Intel has posted those jobs, and even filled some of them. This suggests pretty clearly that Intel is not giving up on the Ohio project, despite all the delays.
Is Intel a Buy, Hold or Sell?
Turning to Wall Street, analysts have a Hold consensus rating on INTC stock based on five Buys, 19 Holds and six Sells assigned in the past three months, as indicated by the graphic below. After an 84.47% rally in its share price over the past year, the average INTC price target of $38.54 per share implies 4.09% upside potential.
