Intel received a second upgrade this week from Citi analysts, raising their rating to Neutral from Sell. Analyst Atif Malik believes supply tightness in TSMC’s packaging business will benefit Intel. Interest in Intel’s advanced packaging business is growing, with potential for front-end foundry customers as manufacturing processes improve.

TSMC, Intel’s competitor, acknowledged Intel’s progress and potential in the chip manufacturing industry. CEO C.C. Wei stated that while Intel is a formidable competitor, TSMC does not underestimate their progress. Despite concerns, Intel’s stock rose slightly and has seen a 154% increase over the past year, signaling potential turnaround success.

Read more at Yahoo Finance: Nasdaq leads Dow, S&P 500 higher as TSMC’s strong outlook buoys AI hopes