Intel Corp's (NASDAQ:INTC) turnaround has become one of Wall Street's favorite semiconductor trades.
The stock has more than doubled this year as investors bet the company can reclaim its manufacturing edge and emerge as a major AI winner.
JPMorgan, however, thinks the rally may have already priced in a recovery that still needs to be proven. • Intel shares are retreating from recent levels.
Why are INTC shares down?
The Turnaround Everyone Is Betting On Intel's resurgence has been driven less by what the company has already accomplished and more by what investors believe it can become.
