Intel making strides in becoming a foundry, says Northland

After Intel announced that a customer prepaid for 18A capacity and as a result the company is pulling in its new Arizona fab, Northland called this “the latest in a series of announcements and press releases indicating that INTC is making significant strides in becoming a foundry.” The firm, which also noted that Intel indicates that Q3 is tracking above the mid-point of guidance, has an Outperform rating and $45 price target on the shares.