Intel (NASDAQ:INTC) Gears Up For CES – TipRanks.com

For those not familiar, next week will play host to one of the greatest gadget bacchanals on the face of the Earth: the Consumer Electronics Show (CES). And this annual event in Las Vegas brings with it a look at all manner of new and exciting gadgets. Chip stock Intel (INTC) will be there, and it is already preparing to go toe to toe with rival Advanced Micro Devices (AMD). Investors are impressed, and Intel picked up nearly 2% in Friday afternoon’s trading.

The word from PC World says that, for Intel, it will be all about Arrow Lake, which will be exhibited pretty much right alongside AMD’s Strix Halo lineup. More specifically, Intel will be showing off the new Core H line, as well as the Core HX lineup for gaming laptops, a particular thrill for PC gamers everywhere.

However, Intel will have a serious fight on its hands as AMD’s lineup includes not only the Strix Halo, but also the latest versions of the Ryzen 9000X3D processors as well. And, there is even some word that Qualcomm (QCOM) may have something to show at the big event; there is not much advance word about this one, but it is a safe bet that it will have something to show off somewhere at CES.

Rising Popularity at AMD

What also will be little help to Intel is that chip buyers are increasingly turning their attention to AMD. A survey from Steam, detailed at Tweaktown, revealed that AMD is “poaching buyers from Intel.” In fact, the survey noted, AMD silicon is now found in 38.73% of Steam PCs. Considering that, back in October, AMD was only 33.77% of the field, that should give Intel serious pause.

The biggest reason, the report notes, is that Intel’s constant issues with desktop processors are coming back to haunt it, and in a very big way. Between the “erosion of faith” caused by faulty processors, and the very real potential of more such problems hitting later, the end result is that users simply trust Intel hardware less than they used to, and are making buying decisions accordingly.

Is Intel a Buy, Hold or Sell?

Turning to Wall Street, analysts have a Hold consensus rating on INTC stock based on one Buy, 21 Holds and five Sells assigned in the past three months, as indicated by the graphic below. After a 55.46% loss in its share price over the past year, the average INTC price target of $24.53 per share implies 19.43% upside potential.

See more INTC analyst ratings

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