Northland Capital Markets downgraded Intel from Outperform to Market Perform. The firm cited valuation concerns following a nearly 500% share price surge over the past year. Analysts suggest the current rally already prices in most expected operational improvements. The report also warned of a potential slowdown in data center spending by 2027.
Intel’s foundry business reported positive developments alongside the downgrade. Taiwanese partner UMC confirmed their 12nm process collaboration is progressing smoothly. Mass production for the joint project remains on track for 2027. This partnership highlights Intel’s ongoing efforts to build manufacturing capacity for external clients.