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Intel initiated with a Hold at Loop Capital

Loop Capital initiated coverage of Intel (INTC) with a Hold rating and $25 price target. The firm says TSMC’s (TSM) advanced-node manufacturing as better than Intel’s. It views TSMC as the “obvious manufacturing partner” to get Intel’s products more competitive with AMD (AMD), Nvidia (NVDA) and Arm (ARM). Loop believes that if Intel Foundry can’t rely on the volume from Intel Products, the company as a whole will struggle to cover its fixed costs. The firm sees getting more constructive on Intel shares on a shift away from foundry.

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