Intel (INTC) Poised for Better Q3 Results, Says KeyBanc Analyst John Vinh

Core Viewpoint - Intel Corporation is expected to report improved third-quarter results and provide optimistic fourth-quarter guidance, driven by strong server demand and upgrades to its Granite Rapids processors [2][3]. Group 1: Financial Performance - Intel is anticipated to report better third-quarter results and higher fourth-quarter guidance, supported by broad-based server strength and customer upgrades to Granite Rapids [2][3]. - The monthly cloud instance tracker indicates that Granite Rapids is significantly increasing public cloud deployments recently [2][3]. Group 2: Market Trends - Server demand is projected to continue strengthening into the second half of 2025, despite tariff-related pull-ins observed in the first half [2][3]. - Traditional server upgrades are being driven by the introduction of the latest-generation server CPUs, including Intel's Granite Rapids and AMD's Turin [3]. Group 3: Manufacturing Insights - Manufacturing yields for Intel's 18A process technology have stalled at 50-55%, which is likely to delay the volume ramp of Panther Lake until the second quarter of 2026 [3]. Group 4: Investment Perspective - While Intel shows potential as an investment, there are AI stocks that may offer greater upside potential and lower downside risk [4].