Intel shares trade at $41.19, according to IEX data, amid ongoing efforts to reclaim leadership in semiconductor manufacturing. Northland Capital Markets has lifted its price target for the chipmaker to $92 from a prior level — the highest on the Street — driven by a reassessment of the value of Intel's fabrication plants.

The firm tripled its multiple on Intel's property, plant, and equipment to 3x balance-sheet value within its sum-of-the-parts analysis, as reported by Investing.com. This reflects Intel's progress in advanced node production, including shipments from its 18A process that began in January 2026. The company met a key milestone from its 2021 roadmap: developing five nodes in four years.

Intel's current leadership has secured approximately $17.9 billion in funding. This includes investments from Nvidia, SoftBank, the U.S. government, and proceeds from selling 51% of its Altera unit. Notable deals involve partnerships with Tesla and Google, positioning Intel as one of three top logic chipmakers globally.

Recently, Intel repurchased a 49% stake in Fab 34 from Apollo for $14.2 billion, regaining full control. The company now runs three facilities capable of 3nm or finer manufacturing.

Northland highlights a looming shortage of leading-edge logic capacity expected in 2027. Geopolitical risks around Taiwan could restrict access to TSMC production. Historically, TSMC took decades to surpass Intel technologically; Northland views it unlikely for new entrants to compete at 3nm soon.

While the consensus analyst rating remains Hold with an average target of $61.50 — implying about 49% upside from current levels — Northland's bullish stance underscores the potential worth of Intel's foundry assets. Intel's market cap stands at roughly $207 billion.