Is Intel Stock Going to $100? 1 Wall Street Analyst Thinks So.
Intel (NASDAQ: INTC) investors are having a pretty great week so far -- even if Intel stock isn't yet showing it. The Wall Street Journal reported Wednesday that the U.S. Commerce Department awarded Intel $8.5 billion in subsidies to help defray the cost of expanding semiconductor production in Arizona, New Mexico, Ohio, and Oregon.
This means fully 16% of the $53 billion in government money authorized by the 2022 "Chips Act" will go to Intel alone. Global Equities Research analyst Trip Chowdhry is looking at the news positively and, on Thursday, he raised his price target on Intel stock to a big, fat $100.
Considering Intel stock costs roughly $42 today, that's a huge vote of confidence. Chowdhry's price target implies this $182 billion company will more than double in value over the next 12 months or so. What has him so enthused?
Source Fool.com