Goldman Sachs Reaffirms Neutral on Intel, $100 Price Target

Goldman Sachs analyst James Schneider reiterated a Neutral rating and $100 price target on Intel (NASDAQ: INTC)

“We expect the stock to trade meaningfully lower following a solid quarter with guidance that was significantly below the Street, driven mainly by a significantly weakening PC market.

We believe investor expectations were skewed positive, driven by near-term strength in Server CPUs, sustained momentum in advanced packaging, and signs of progress on its advanced foundry nodes.

However, Intel’s commentary on the PC market – with ~20% QoQ revenue decline expected in 4Q and continued inventory correction extending into 1H27 – is likely to result in a significant reset to Street estimates.

We continue to expect Intel to be a beneficiary of rising server demand (driven by agentic AI), and we see upside optionality from Intel’s role as a US champion with its foundry business – with near-term traction in advanced packaging, and longer-term potential in wafer outsourcing.

However, we are Neutral rated as we believe the stock is likely to remain under pressure until visibility stabilizes and execution improves – and we believe Intel’s closest peers (AMD, NVDA and AVGO) offer more favorable risk/reward at current levels.”

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