Intel has secured a major win with Microsoft’s new Surface devices, which will run on Intel’s Lunar Lake processors instead of Qualcomm’s Snapdragon X chips. The news boosted Intel shares by over 1.5% in Thursday’s trading.
The Surface Laptop 7 and Pro 11 will be available for purchase on February 18, with both models featuring Copilot Plus PCs. Microsoft plans to focus on business customers with the new devices, but will also offer Qualcomm’s chips at a lower price point ($500 cheaper). The Intel version of the Laptop 7 will start at $1,499.99.
The win comes after Taiwan Semiconductor (TSM) was awarded custom chip supply duties with Apple instead of Intel. TSMC’s willingness to meet customer demands and provide at any cost left it as the top choice for providers, while Intel struggled to keep up.
Wall Street analysts have a Hold consensus rating on INTC stock, with 28 out of 29 analysts recommending holding or buying the stock. The average price target implies 17.78% upside potential after the company’s share price lost 52.82% over the past year.
Source: https://www.tipranks.com/news/intel-nasdaqintc-powers-two-new-microsoft-surfaces