Intel (NASDAQ: INTC) Stock: The Make-or-Break Chip Just Arrived

TLDR

Table of Contents

Intel debuted its Panther Lake processor lineup at CES 2026, marking the company’s first chips manufactured using the 18A process
Core Ultra Series 3 processors deliver 60% performance gains over previous generation Lunar Lake chips
Melius analyst Ben Reitzes upgraded Intel to Buy with a $50 price target, up from $44
Intel CEO Lip-Bu Tan’s connections could bring Nvidia and Apple as 14A manufacturing clients by 2028-2029
The company will introduce handheld gaming systems powered by Panther Lake later in 2026

Chipmaker Debuts Critical 18A Products at Las Vegas Tech Show

Intel took center stage Monday at the Consumer Electronics Show in Las Vegas with the reveal of its Panther Lake processors. These chips carry extra weight as the first products built on Intel’s 18A manufacturing technology.

The Core Ultra Series 3 lineup represents a make-or-break moment for Intel’s foundry ambitions. After relying on TSMC to manufacture previous Lunar Lake processors, Intel is now producing these chips in-house.

CEO Lip-Bu Tan told attendees the company met its commitment to ship 18A products before 2025 ended. The Panther Lake processors use new transistor architecture and power distribution methods enabled by the 18A node.

Intel Corporation, INTC

Performance numbers look strong on paper. Intel says Series 3 chips outperform Lunar Lake by 60%. The design includes a dedicated graphics chiplet that combines with other components to create the final processor.

Senior vice president Jim Johnson walked through the technical specifications during Intel’s presentation. The chips will appear in laptops, desktops, and portable gaming devices.

Intel also refreshed its Arrow Lake processor family and teased upcoming Arc graphics cards, including the B770 model. The company’s AI initiatives will get more attention as CES continues through the week.

Manufacturing Questions Remain

Reuters reported last year that Intel struggled with Panther Lake yields. Lower yields mean fewer usable chips from each silicon wafer, which hurts profitability and supply.

Intel executives pushed back on those concerns. They claim yields have improved each month and won’t prevent the planned rollout.

The company announced plans for a Panther Lake-based handheld gaming platform this year. These portable PC gaming devices have gained traction with consumers recently.

Wall Street Warms Up

Melius Research analyst Ben Reitzes changed his stance on Intel Monday. He moved his rating from Hold to Buy and lifted his price target to $50 from $44.

Reitzes highlighted Intel’s upcoming 14A process as a game-changer. He thinks CEO Tan’s industry relationships could land major manufacturing contracts. Nvidia already owns Intel shares, and both Nvidia and Apple might use Intel’s 14A node by 2028 or 2029, according to Reitzes.

“This news could fully filter into the stock as we go throughout 2026, driving higher book value,” the analyst wrote in his note.

Intel stock has climbed 98.19% over the past twelve months. But analysts remain divided on where it goes next.

The consensus rating sits at Hold. Six analysts recommend buying, 19 suggest holding, and six say sell. The average price target of $39 implies modest downside from current levels.

Competition Heats Up at CES

Intel isn’t the only chipmaker making noise in Las Vegas. AMD scheduled a keynote for Monday evening with CEO Lisa Su.

AMD recently struck a major deal with OpenAI for its MI400 processors. The partnership should bring tens of billions in revenue to AMD over time. Some of those chips will ship this year.

Nvidia CEO Jensen Huang also appeared at CES Monday. He announced the company’s next generation AI chips are in “full production” and deliver five times the computing power of prior models.

Intel needs to claw back market share from AMD in the PC space. The company lost ground over the past few years as AMD released competitive products.

The Panther Lake launch puts Intel’s foundry strategy to the test. If the 18A process works as promised, Intel could attract outside customers and rebuild its position in the chip industry.