Intel (NASDAQ:INTC) hasn’t been one of the leading chip stocks lately. However, it may have made a move to get an edge on the pack by teaming up with several other companies to support a new startup. The startup in question is called Skylo Technologies, and it’s brought in support from BMW and Samsung.
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Skylo is working on “direct-to-device” satellite communications, which will take advantage of satellites for connectivity but without a lot of bulky equipment. Its goal is “ubiquitous connectivity,” which means having uninterrupted connections. This would be a clear advantage for companies like Intel, BMW, and Samsung. With Skylo’s system, nearly any device would be able to connect directly to satellites in orbit and take advantage of those connections.
There’s a Lot More Afoot
Skylo might be able to produce some exciting new opportunities, but there’s a lot more than that afoot, and not all of it is good for Intel. For instance, Intel’s latest earnings report suggests that its Ohio project—worth about $20 billion so far—is getting delayed thanks to a chip market that’s now in open decline. And with AI growth also losing momentum, that’s another major potential income stream now reduced to questionability. However, word about the Intel Core i9-14900KS is looking bright, as this 24-core powerhouse is bringing in 6.2GHz of speed and doing so with sufficient stability to go into production.
What Is the Target Price for INTC?
Turning to Wall Street, analysts have a Hold consensus rating on INTC stock based on seven Buys, 24 Holds, and four Sells assigned in the past three months, as indicated by the graphic below. After a 51.66% rally in its share price over the past year, the average INTC price target of $46.42 per share implies 8.36% upside potential.
