Intel (INTC) Stock: Nvidia and Apple Could Be Next 18A Process Chip Customers

TLDR

• Intel launched its Panther Lake laptop chip at CES 2026, the first processor built on its new 18A manufacturing process
• The Core Ultra Series 3 chips promise 60% better performance than the previous Lunar Lake generation
• Melius Research upgraded Intel from Hold to Buy with a $50 price target, citing potential future deals with Nvidia and Apple
• Intel plans to release a handheld gaming platform based on Panther Lake designs later this year
• The company faced yield issues with Panther Lake production but executives say manufacturing is improving monthly

Intel shares moved slightly higher Monday as the chipmaker unveiled its next generation of processors at the Consumer Electronics Show in Las Vegas. The Panther Lake launch marks a critical moment for the company’s manufacturing comeback story.

Intel Corporation, INTC

The Core Ultra Series 3 processors represent Intel’s first high-volume product using its 18A manufacturing process. This is the same technology Intel hopes will attract major customers like Nvidia and Apple in the coming years.

CEO Lip-Bu Tan confirmed the company delivered on its promise to ship 18A products in 2025. The Panther Lake chips feature a new transistor design and power delivery system made possible by the advanced manufacturing node.

Intel claims the Series 3 chips deliver 60% better performance compared to the previous Lunar Lake generation. The company also created a separate graphics chiplet that works together with other mini-chips to form the complete processor.

Jim Johnson, senior vice president of Intel’s PC group, shared technical details about the new lineup. The chips will power everything from laptops to handheld gaming devices.

Expanding Beyond Laptops

Intel plans to launch a handheld gaming platform based on Panther Lake designs this year. Handheld PCs have grown in popularity recently, giving Intel another market to target.

The company also showed refreshed Arrow Lake models and previewed new Arc graphics processors, including the Arc B770. Intel’s AI work will be featured throughout the week at CES.

The 18A process faces scrutiny after Reuters reported yield issues last year. Yield refers to how many working chips come from each silicon wafer. Intel executives say yields are improving monthly and won’t delay the launch.

Analyst Confidence Builds

Melius Research upgraded Intel from Hold to Buy on Monday. Analyst Ben Reitzes raised his price target from $44 to $50.

That news could filter into the stock throughout 2026, he added. Intel shares have rallied 98.19% over the past year.

Wall Street maintains a Hold rating on Intel stock. Six analysts rate it a Buy, 19 say Hold, and six recommend Sell. The average price target sits at $39 per share.

The Panther Lake launch comes as Intel tries to win back market share from Advanced Micro Devices. Previous-generation Lunar Lake chips were largely manufactured by TSMC, not Intel’s own fabs.

AMD CEO Lisa Su was scheduled to speak at CES Monday evening. The company announced a multibillion-dollar deal with OpenAI for its MI400 chips, expected to generate tens of billions in revenue.

Intel’s 18A process represents the first major product launch under this new manufacturing technology. The company hopes proving it can manufacture competitive chips in-house will attract foundry customers and restore investor confidence in its turnaround plan.

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