Despite rising over 15% in the past week, shares in Intel (INTC) appear to have hit a resistance wall at the $40 mark. The stock is gaining ground after rumors emerged of the semiconductor developer supplying Apple’s lowest-end M-series chips in the next two years.

TF International Securities analyst Ming-Chi Kuo posted on X last week that he expected Intel to begin shipping its lowest-end M processor to Apple as early as the second or third quarter of 2027. He said that his latest industry surveys indicate that “visibility on Intel becoming an advanced-node supplier to Apple has recently improved significantly.” The rumor has yet to be confirmed by either Apple Inc. or Intel; however, the news has sparked a solid rally for both stocks, with AAPL also up 4% in the last 5 days.

Kuo also went on to suggest that while Intel remains behind its rival TSMC, a deal with the technology giant would make its long-term outlook more positive. “In absolute terms, order volumes for the lowest-end M processor are relatively small and virtually no material impact on TSMC’s fundamentals or its technology leadership over the next several years.”

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Despite the recent climb, analysts remain mixed on Intel’s (INTC) stock future, with many calling for another decline. Loop Capital and Rosenblatt have a $25 target, while JP Morgan targets $30, and B of A Securities aims for $34. Meanwhile, Paul Markham, investment director at GAM Global Equities, agrees with Kuo about optimsitic prospects for INTC stock. “Apple is a potential major reference customer whose presence validates Intel’s high-performance foundry offering,” he told CNBC in an interview. “If Intel pulls it off, there is potential to win higher volume and value business from Apple, for example CPU production for the iPhone, and win business from other large chip designers.”

At press time, INTC is trading near the top of its 52-week range and above its 200-day simple moving average at $40. Analysts surveyed by CNN appear to have changed their tune on Intel (INTC) stock. Previously, many called the stock a buy, but now have shifted to a hold rating. Out of 46 analyst ratings on CNN, only 11% rate INTC a buy, while 70% opt to hold INTC and 19% call the stock a sell.

Despite rising over 15% in the past week, shares in Intel (INTC) appear to have hit a resistance wall at the $40 mark. The stock is gaining ground after rumors emerged of the semiconductor developer supplying Apple’s lowest-end M-series chips in the next two years.

TF International Securities analyst Ming-Chi Kuo posted on X last week that he expected Intel to begin shipping its lowest-end M processor to Apple as early as the second or third quarter of 2027. He said that his latest industry surveys indicate that “visibility on Intel becoming an advanced-node supplier to Apple has recently improved significantly.” The rumor has yet to be confirmed by either Apple Inc. or Intel; however, the news has sparked a solid rally for both stocks, with AAPL also up 4% in the last 5 days.

Kuo also went on to suggest that while Intel remains behind its rival TSMC, a deal with the technology giant would make its long-term outlook more positive. “In absolute terms, order volumes for the lowest-end M processor are relatively small and virtually no material impact on TSMC’s fundamentals or its technology leadership over the next several years.”

Also Read: Strategy (MSTR) Stock Crashes 12% as Bitcoin Hits $84,000

Despite the recent climb, analysts remain mixed on Intel’s (INTC) stock future, with many calling for another decline. Loop Capital and Rosenblatt have a $25 target, while JP Morgan targets $30, and B of A Securities aims for $34. Meanwhile, Paul Markham, investment director at GAM Global Equities, agrees with Kuo about optimsitic prospects for INTC stock. “Apple is a potential major reference customer whose presence validates Intel’s high-performance foundry offering,” he told CNBC in an interview. “If Intel pulls it off, there is potential to win higher volume and value business from Apple, for example CPU production for the iPhone, and win business from other large chip designers.”

At press time, INTC is trading near the top of its 52-week range and above its 200-day simple moving average at $40. Analysts surveyed by CNN appear to have changed their tune on Intel (INTC) stock. Previously, many called the stock a buy, but now have shifted to a hold rating. Out of 46 analyst ratings on CNN, only 11% rate INTC a buy, while 70% opt to hold INTC and 19% call the stock a sell.