Goldman Sachs initiates Intel coverage with Neutral rating and $150 price target

Goldman Sachs has started covering Intel with a Neutral rating. Analyst James Schneider initiated coverage on June 25 with a Neutral rating and a $150 price target, implying roughly 13% upside from the stock’s recent trading range of $132 to $133.

The stock has more than tripled in 2026, riding the broader semiconductor wave and surging AI demand. Goldman’s take is that most of that good news is already baked into the price.

Server CPUs and foundry ambitions

Goldman Sachs pointed to genuinely positive demand trends in the server CPU market as a tailwind for Intel’s core business. The firm also flagged potential growth in Intel’s foundry operations, which have been a central pillar of the company’s strategic overhaul.

Goldman’s positioning here essentially argues that investors should respect what Intel has accomplished without chasing the rally further. The firm noted that competitors like AMD, Nvidia, and Broadcom offer more attractive risk-reward profiles for those looking to play the semiconductor and AI themes.

Why Goldman prefers AMD, Nvidia, and Broadcom

Nvidia has established itself as the undisputed leader in AI training hardware. AMD has been steadily gaining share in both data center CPUs and GPUs. Broadcom has carved out a dominant position in custom AI accelerators and networking silicon.

Intel’s forgotten crypto chapter and what it signals

Intel launched its Blockscale ASIC series in 2022, a chip specifically designed to improve Bitcoin mining efficiency. Intel discontinued the Blockscale line in 2023 as part of a strategic refocusing on its core IDM 2.0 initiatives.

No crypto or blockchain announcements accompanied Goldman’s coverage initiation. The company still provides general-purpose chips that can support blockchain infrastructure, but it has effectively ceded the specialized mining hardware market to dedicated ASIC manufacturers.

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