After conducting checks, Sterne Agee CRT believes that Intel is preparing to significantly increase production of its 7360 modem chipset in mid-2016. Consequently, the firm raised its 2016 revenue estimate for the company by $850M. The firm also believes that the company's recent investment in NAND technology could generate significant revenue for the company in 2017. Sterne Agee CRT keeps a $38 price target and Buy rating on Intel.

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The U.S. Department of Defense has awarded Intel Foundry Phase Three of its Rapid Assured Microelectronics Prototypes - Commercial, or RAMP-C, program, the company announced. "The award was announced through the National Security Technology Accelerator's consortium-based Strategic and Spectrum Missions Advanced Resilient Trusted Systems Other Transaction Authority program. The third phase of RAMP-C advances the tape-out and testing of early defense industrial base product prototypes, signifying a critical milestone for the program that highlights the readiness of Intel 18A process technology, intellectual property and ecosystem solutions for high-volume manufacturing. As part of the announcement, RAMP-C customers can begin manufacturing commercial and DIB product prototypes on Intel 18A process technology," Intel stated. Reference Link