Intel Corporation INTC shares are up more than 9 percent since the start of 2019, and the stock's recent momentum has at least one pro expecting the stock to move above its 52-week high of $57.60.
What Happened
The semiconductor space as a whole looks appealing, but Intel's stock chart stands out as being attractive, Craig Johnson, Piper Jaffray's senior technical research analyst, said during a Monday CNBC "Trading Nation" segment. Taking a step back and looking at Intel's performance since the start of 2014 shows a long-term uptrend pattern, he said.
Analysts at Morgan Stanley said Friday that Intel's stock could see upside to $64 per share. Intel's return to prior highs implies the stock is already "two-thirds of the way there," Johnson said. Given the market's strength, Intel's stock should "push through" to new highs, Johnson said.
Mark Tepper: Beware The Value Trap
Intel's stock is "cheap for a reason," Strategic Wealth Partners' Mark Tepper responded.
His reasoning: Intel's competitors within the most important segment — the data center — are "eating their lunch." The segment accounts for around 33 percent of Intel's total revenue and boasts higher margins, so weaker sales in the all-important segment make the stock a "value trap," Tepper said.
"If they're not crushing it in the data center group, I have very little interest in the computing side of the business."
Related Links:
Morgan Stanley Turns Bullish On Intel, Cites CEO Changeover
Susquehanna Downgrades Intel, Questions Management's Guidance
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