Thanks to a 190.76% rally to $107.29, the American semiconductor giant Intel (NASDAQ: INTC) is already among the top-performing stocks in the benchmark S&P 500 index.
While its success so far in 2026 might make some investors question if a significant correction is imminent, one high-profile Wall Street analyst estimates that INTC shares are not only still a ‘Buy,’ but will continue rallying thanks to a major new artificial intelligence (AI) market.
Specifically, Citi’s (NYSE: C) Atif Malik explained on May 18 that his firm’s estimates for the total addressable market for server central processing units (CPUs) will hit $132 billion by 2030.
The new market space – and a new avenue within the AI boom – is likely to see Intel capture 47% of the value, justifying the bullish recommendation and the forecasted 21.17% rise to $130.
Citi analyst predicts AMD will capture 34% of AI server CPU TAM
Notably, Malik issued a revision for another blue-chip chipmaker – Advanced Micro Devices (NASDAQ: AMD) – on the same day, though he also estimated AMD would take a slightly lower, 34% share of the server CPU TAM.
Thus, the Wall Street expert opted to predict a 9.27% rise to $460 for the equity and maintain his previous ‘Neutral’ rating.
Wall Street sets Intel stock price target for the next 12 months
Elsewhere, Citi’s Atif Malik is something of an outlier on Wall Street regarding his outlook for Intel stock. Specifically, out of the seven notes issued for INTC shares in May, three featured ‘Sell’ recommendations, one positioned the equity as ‘Hold,’ and three proved bullish.
Indeed, zooming even further out reveals that the sum of revisions made within the most recent three months positions the semiconductor giant as a ‘Hold’ with a total of eleven positive recommendations, three – all assigned in the last three weeks – bearish assessments, and as many as twenty-four ‘Neutral’ ratings.
Similarly, the average price target for the next 12 months is moderately bearish as it foresees Intel stock falling 19.49% to $87.09, per the data Finbold retrieved from TipRanks on May 19.
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