KeyBanc raised the firm’s price target on Intel (INTC) to $65 from $60 and keeps an Overweight rating on the shares. The firm notes Intel posted strong Q4 results and guided Q1 2026 below. Upside was driven by strong server CPU demand, as DCAI grew 15% quarter-over-quarter, while Q1 revenue/gross margin were guided lower due to peak constraints, as lower revenues and the initial 18A ramp are dilutive to gross margin. However, capacity is expected to increase with above-seasonal growth expected for the rest of the year. The company did not confirm Apple (AAPL) as an IFS win but indicated customers are expected to make foundry decisions on 14A in the second half of 2026.
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