BofA Double-Upgrades Intel (NASDAQ:INTC) on CPU Opportunity

Bank of America issued a double upgrade on Intel Corporation (NASDAQ: INTC) on Thursday, June 11, citing the company's CPU opportunity as a key catalyst. The upgrade moved Intel at least two rating notches higher in BofA's coverage, according to reports from Yahoo Finance and Seeking Alpha. Intel shares were last trading at $113.04 on Thursday, June 11, up $6.00, or 5.61%, from the prior close of $107.04.

What Changed

• BofA delivered a double upgrade on INTC on Thursday, June 11, citing the CPU opportunity as the primary rationale, per Yahoo Finance reporting.
• Intel shares were last trading at $113.04 on Thursday, June 11, reflecting a $6.00 gain from the prior session close.
• Intel's 52-week range spans $18.97 to $132.75, placing the current price in the upper half of that band.
• A separate report noted that one Intel insider sold nearly 10% of his INTC stock around the same period, according to Yahoo Finance.

Why It Matters

A double upgrade from a major Wall Street bank carries more weight than a single-notch adjustment, as it signals a more decisive shift in the analyst's fundamental view rather than an incremental revision. BofA's focus on the CPU opportunity points to the analyst team reassessing Intel's competitive position in its core processor business, according to the Yahoo Finance report. The Cadence Design Systems (NASDAQ: CDNS) expansion of its deal with Intel Foundry, reported separately on Thursday, adds context to the broader ecosystem activity around Intel's manufacturing operations, per Yahoo Finance.

The insider selling disclosed around the same timeframe introduces a counterpoint to the bullish analyst action. While BofA's upgrade reflects an institutional view on Intel's forward opportunity, an insider reducing his position by nearly 10% is a separate data point investors may weigh alongside the upgrade. No further detail on the insider's name, share count, or transaction price was available in the source data.

Wall Street View

As of June 1, 2026, analyst consensus stood at 13 Buy ratings, 4 Strong Buy, 32 Hold, and 4 Sell, a distribution that has held broadly stable from the May 1 snapshot of 14 Buy, 4 Strong Buy, and 33 Hold. BofA's double upgrade on Thursday, June 11, represents one of the more decisive positive revisions to Intel's coverage in the recent period. The forward P/E of 73.5x reflects elevated valuation expectations relative to Intel's current profitability profile (TTM , may not reflect latest quarter).

Investor Takeaway

BofA's double upgrade anchors Thursday's move in a specific analyst call tied to Intel's CPU business, giving the price action a concrete fundamental rationale rather than broader market sentiment. The simultaneous insider selling reported on the same day is a factor worth monitoring, though the absence of full transaction details limits the conclusions that can be drawn. With the stock trading near $113.04 on Thursday, June 11, and the broader analyst community still split between Buy and Hold, the BofA upgrade represents a meaningful shift but not yet a consensus view.