Intel stock turnaround

What happened: Intel's stock has been on a bullish streak, with a 56% gain over nine days, its best run since at least the 1970s. Analysts have raised price targets, with Bernstein nearly doubling it to $60, UBS to $65, and TD Cowen to $60. This optimism is driven by Intel's data center momentum, foundry partnerships with Tesla, Google, and xAI, and strong quarterly results, particularly in Data Center revenue (up 9% YoY to $4.74B in Q4). Jim Cramer also praised Intel as a "rocket ship".

Market impact: The semiconductor sector and tech stocks have seen a boost, with Intel's turnaround story attracting investors. The company's improved near-term outlook has driven its stock price up, with shares trading above $65. However, Intel faces a valuation disconnect due to its strong Data Center performance and 18A process ramp, which could limit further upside.

What to watch next: Intel's Q1 earnings report, scheduled for April 27, will provide crucial insights into the company's financial health and growth prospects. Additionally, investors will closely monitor Intel's progress in its foundry business and any updates on its 18A process. The stock's reaction to these catalysts will determine if the bullish momentum continues or if a pullback occurs.