Intel jumps 11% to a three-year high after KeyBanc upgrade on server CPU shortage

Intel shares rose more than 11% on January 21 to above $54, their highest level since January 2022. The move followed a KeyBanc upgrade that cited supply checks suggesting Intel is almost sold out for the year on server CPUs, which usually signals coming price increases. The rally came the day before the Q4 report.

• Stock up more than 11% on January 21 to above $54.25
• KeyBanc price target $60
• Supply checks: server CPUs almost sold out for the year
• Shares at their highest level since January 2022