Why a former Intel skeptic is giving up his negative call on the stock after four years

Why a former Intel skeptic is giving up his negative call on the stock after four years Why a former Intel skeptic is giving up his negative call on the stock after four years Intel’s manufacturing and chip design have improved, according to a J.P. Morgan analyst Harlan Sur upgraded shares of Intel on Sunday. One of the last analysts with a negative rating on Intel’s stock has just changed his tune.

Morgan analyst Harlan Sur had held an “underweight” rating on Intel’s stock for nearly four years, meaning essentially that he thought other chip stocks were better bets. And even though Intel’s stock is up about 260% over a four-year span, Sur noted that it underperformed the PHLX Semiconductor Index Now Sur has a different view, with Intel shares off about 36% from their June peak, as of Friday’s close. He’s not ready to outright recommend the stock, but he no longer thinks it will be an laggard.

Video 91/1 Skip Ad Continue watching after the adVisit Advertiser websiteGO TO PAGE Why humanoid robots are so hard to mass-produceSee All Videos Why humanoid robots are so hard to mass-produce Play video: Why humanoid robots are so hard to mass-produce Since Lip-Bu Tan took over as CEO in 2025, Intel has improved the competitiveness of its data-center chips, according to Sur. Intel’s data-center and AI server segment has become the company’s largest source of profit as manufacturing and chip design have improved, he noted. Intel’s new custom-chip business especially showcases its strength in manufacturing and the company’s intellectual-property advantage, he said.

The company manufactures semiconductors for external customers and its new processing node has been a big success. Don’t Short Yourself offers weekly money tips to help you earn it, stack it and grow it. I agree to the Terms of Use, Privacy Notice and Cookie Notice.

I would like to receive updates and special offers from Dow Jones and affiliates. I can unsubscribe at any time. Still, some factors keep Sur from flipping completely bullish.

He wants more evidence that Intel can recover after losing share of revenue in the market for central processing units relative to AMD. He’ll also be looking for more progress in data-center networking. **See also:**Who will benefit more from AI agents when it comes to spending – companies or you? With Sur’s upgrade, he’s now part of the majority.