This Hot Chip Stock Could Be a Top Artificial Intelligence (AI) Pick for 2024 and Beyond
's (NASDAQ: INTC) fortunes on the stock market have turned around tremendously in 2023 as shares of the chipmaker have gained 74% this year, and the good part is that Chipzilla is likely to sustain its impressive momentum in the new year as well thanks to new artificial intelligence (AI) chips that could help it capture lucrative opportunities in two fast-growing markets.
On Dec. 14, Intel unveiled new AI chips targeting the personal computer (PC) and data center markets. Investors liked what they saw as Intel stock jumped following the event. Let's see why the market gave Intel's AI chips the thumbs-up and check how they can help the stock sustain its rally in 2024 and beyond.
The personal computer (PC) market is expected to witness a big turnaround in 2024. Market research firm Canalys anticipates an 8% jump in PC sales next year, followed by double-digit growth in 2025, 2026, and 2027. For comparison, PC shipments are expected to drop 12.4% in 2023.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 23 Buy predictions and 12 Sell predictions.
With a target price of 37 € there is a positive potential of 28.03% for Intel Corp. compared to the current price of 28.9 €.
