A new report says that chip stock Intel (INTC) commissioned a study about the artificial intelligence (AI) personal computer (PC). And the study revealed that AI PCs are indeed a good thing, and this is totally not a waste of Intel’s time and money.
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The study took a look at 6,000 people, aged 18 and up, from three of Europe’s leading economies: France, Germany, and the United Kingdom. They were surveyed on topics including how they use computers, how much they knew about AI PCs, and what they would do with the time they would save by using an AI PC.
The study points out that 74.63 minutes a week, on average, are lost to “computer chores,” which include things like “analyzing data.” Compiling data also took a chunk out of the user’s average day with 78.62 minutes lost. Most ordinary users may never run into such a problem, but for those who do any programming, it could be particularly useful.
Even things like filing documents and searching for certain files contribute time lost, which AI PCs can address. This in turn may form the basis for Intel’s marketing of the AI PC, which it needs to get its processor sales up to snuff.
Turbo Mode
There was also good news for programmers who favor the Python library, as the new version of the Intel Neural Processing Unit (NPU) Acceleration Library is now available. This includes several new features, including documentation changes and examples of C++ code.
Finally, we also have news that Intel has been pursuing grants to help address its cash crunch. While it is still waiting on CHIPS Act funding, Intel is also looking to get in on grant money as well. It has $39 billion coming under the CHIPS Act, and another $11.5 billion is set to arrive from factory project grants and defense-related projects.
Is Intel a Buy, Hold or Sell?
Turning to Wall Street, analysts have a Hold consensus rating on INTC stock based on one Buy, 22 Holds and seven Sells assigned in the past three months, as indicated by the graphic below. After a 43.5% loss in its share price over the past year, the average INTC price target of $24.43 per share implies 0.33% downside risk.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
