JPMorgan upgrades Intel to neutral, shares rise 4%
JPMorgan analyst Harlan Sur lifted Intel (NASDAQ:INTC) from Underweight to Neutral, ending a bearish stance. The upgrade helped Intel stock climb 4% to $93.68, while rival AMD (NASDAQ:AMD) also jumped 4% to $547.23 and NVIDIA (NASDAQ:NVDA) edged up 2% to $217.97. The broader semiconductor rally was reflected in the iShares Semiconductor ETF up 3% and the Invesco QQQ Trust gaining 1.32%.
Key points
- JPMorgan upgraded Intel to Neutral from Underweight, prompting a 4% rise to $93.68.
- AMD shares rose 4% to $547.23; NVIDIA gained 2% to $217.97.
- Analyst Harlan Sur cites tighter AI chip supply and next‑gen manufacturing as upside, but expects continued server‑share losses.
Sur cited improved execution in Intel’s core client and data‑center markets and progress in next‑generation manufacturing under CEO Lip‑Bu Tan. He expects strong demand for agentic AI workloads and a tighter supply chain for leading‑edge chips to drive earnings revisions, though he warned of continued market‑share losses in server processors for several quarters. Intel’s integrated chipmaking, including its Intel 3 and Intel 18A process technologies, differentiates it from AMD and NVIDIA, which rely on external foundries.
The next test for the chipmaker will be its third‑quarter 2026 earnings, slated for release after market close on October 29, a date the company has not confirmed.
Intel and AMD Rise 4% as JPMorgan Upgrades Intel After Steep Pullback; NVIDIA Edges Higher
247wallst.com · 19 October 2026
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