Intel’s stock price jumped more than 3 percent in early trading Monday after an analyst upgraded his rating of the Santa Clara chipmaker.
After FBR Capital Market’s analyst Christopher Rolland raised Intel’s rating from “market perform” to “outperform,” Intel’s shares rose 77 cents by mid morning to $25.05.
Many experts have worried about Intel’s future, given its heavy dependence on sales of personal computers, which are dwindling. And until recently, Intel has had trouble getting its chips into mobile devices, largely because the chips gobbled so much power they shortened the devices’ battery life.
However, Intel has drastically cut its chips’ power consumption. That not only makes them useful for smart phones and tablets, but potentially other intelligent gadgets, said Rolland in a note to his clients.
He concluded Intel now “has more than enough new avenues of growth to replace lost PC units.”