What is Intel's foundry strategy?

Intel's foundry strategy aims to manufacture chips for other companies, opening a new revenue stream and competing with TSMC and Samsung.

Does the upgrade mean Intel stock is a good buy now?

The upgrade reflects one analyst's opinion and is not a buy recommendation. Investors should do their own research and consider risks like competition and strategy execution.

How much did Intel stock rise?

Intel shares rose 5.1% in the morning session following the upgrade announcement.

Intel (INTC) Jumps 5.1% on Rare Double Upgrade from BofA

Intel (INTC) shares jumped 5.1% in morning trading after Bank of America issued a rare double upgrade, signaling strong sell-side support for the company's foundry transformation.

June 11, 2026

2 min read

Source: StockStory

Key Numbers

stock move

5.1%

Shares of Intel (NASDAQ:INTC) surged 5.1% in the morning session after Bank of America issued a rare double upgrade, providing sell-side backing to the foundry story that investors have been bidding up.

Rating Change

The analyst upgraded the stock from "Underperform" to "Buy" with a new price target (not fully disclosed). This double upgrade is uncommon on Wall Street and reflects a significant shift in the firm's outlook.

Analyst Rationale

The analyst believes Intel's foundry strategy is gaining traction, driven by increasing demand for advanced chips. They also cited improvements in the company's balance sheet and reduced risks associated with its expansion plans.

Context

Intel shares have been volatile in recent months as investors debated the company's ability to compete with TSMC and Samsung in the foundry market. This upgrade from a major bank could help restore confidence in Intel's strategic pivot.

What to Make of It

While an upgrade does not guarantee future performance, it signals that some analysts see value in Intel's transformation. Investors should monitor the foundry strategy's execution and upcoming earnings reports to gauge its success.

Frequently Asked Questions

Intel shares rose 5.1% after Bank of America issued a rare double upgrade from 'Underperform' to 'Buy', boosting investor confidence in the company's foundry strategy.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.