Intel could reach $200 within two years, according to Melius Research analyst Ben Reitzes, who has a buy rating and a $165 price target on the stock. The target implies about 70% upside from Tuesday's close. Reitzes said Intel's potential foundry agreements with Apple and other prominent customers could support the valuation, particularly if Intel 14A, its semiconductor manufacturing process node for high-performance chips, enters high-volume production in 2028. His assessment followed a Reuters report that Intel is considering leasing part of its Ohio chipmaking facility to SK Hynix, which could use the site to manufacture memory chips in the United States for the first time. Intel gained more than 4% on the day, while the iShares Semiconductor ETF (SOXX) rose nearly 2%. Intel shares have gained about 300% over the past 12 months, with the source's chart citing a 304% increase. Reitzes said structural tailwinds and stronger execution could continue supporting the stock, although his view is more bullish than the broader analyst consensus: 15 of 50 analysts covering Intel have a buy or strong-buy rating, while 33 rate it hold, according to LSEG data.