Nomura Instinet analyst David Wong reiterates a Buy rating on Intel with a $65 price target ahead of the company's June quarter results on July 25. Amid "broad-based softness" in the electronics end markets, Intel's business will be helped by improvement in the PC end market, ramping shipments of its Cascade Lake data center processors, and qualification of its 10nm technology, Wong tells investors in a pre-earnings research note. He expects continued Mobileye growth momentum and believes the 10nm ramp should help gross margin in the second half of the year.

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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