Veteran Trader Sees Bullish Setup for $INTC With $128 Target

Intel ($INTC) CEO Lip-Bu Tan recently purchased 105,263 shares at $95 each, spending roughly $10 million. The purchase came as Intel ramps up AI spending and works to strengthen its foundry business.
Intel shares have gained roughly 162% this year but remain about 26% below their June high. The company also raised nearly $20 billion through a secondary stock offering and increased its 2026 capital expenditure forecast to more than $20 billion.
Veteran trader Stephen Guilfoyle now sees a potential inverse head-and-shoulders pattern forming, with a pivot around $103. He has set a $128 target and said he would consider adding to his position near Intel’s 200-day moving average.
Bank of America remains bullish, maintaining a Buy rating while lowering its price target to $145 from $160 to account for share dilution and lower valuation multiples across AI-compute stocks.