SOXQ - Intel's Strategic Moves Under Scrutiny Analysts Weigh In on New Financial Structure and Market Share | Benzinga
Susquehanna analyst Christopher Rolland maintained Intel Corp (NASDAQ:INTC) with a Neutral and a $42 price target.
The analyst listed critical takeaways from his first-quarter 2024 PC-SIGnals Intel laptop CPU share improved by +1.2% sequentially, at the highest level since the first quarter of 2022, he noted due to Meteor Lake beginning to ramp (albeit slowly) and Raptor Lake refresh, while Advanced Micro Devices, Inc (NASDAQ:AMD) lacks a new CPU.
Meteor Lake only represented ~0.2% of the Intel laptop mix (only one SKU from Acer and one from Asus, 11 total SKUs) after launching in December, consistent with Rolland’s checks that suggested MTL is taking longer to ramp than expected.
Intel took a modest desktop CPU share, up +0.4% sequentially, as Raptor Lake refresh continues to ramp, the analyst writes.
Rolland raised his 2024 PC estimates, with sellthrough up +1.7% year-on-year and ODM notebook builds up +1.3% year-on-year, generally in line with PC TAM expectations from Intel and AMD.
Aftermarket retail GPU prices increased for both Nvidia Corp (NASDAQ:NVDA) and AMD, with high-end cards selling above MSRP, and GPU ASPs rose +16.8% sequentially in first-quarter of 2024, the first quarter of price increases since the fourth quarter of 2021, as per the analyst.
Nvidia’s aftermarket GPU model share ...