Early Word About Intel-based Handhelds Sends Intel Stock (NASDAQ:INTC) Rocketing Up

The early word out of the Consumer Electronics Show (CES) event in Las Vegas is having a fantastic effect on chip stock Intel (INTC) overall. Some of the newest reports even talked about Intel-driven handheld gaming devices, and that the new line of Panther Lake chips should deliver some serious impact therein. The end result was a huge boost for Intel, up nearly 7% in Wednesday afternoon's trading.Claim 70% Off TipRanks PremiumUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential Specific details about Intel's new connection to handhelds will be coming in over the next few months. But what we know so far is catching a lot of attention. After all, the MSI Claw managed to pull off quite a turnaround when it started running on Lunar Lake chips. That makes the notion of a purely handheld play all the more compelling for Intel. It can do the job. And if it sets out specifically with that job in mind, this could be better than anyone saw coming. Meanwhile, we do know that Intel has plans to specifically bring out a handheld variant for the Panther Lake lineup. There may even be more than one variant to put to work, reports note. The 18A process will actually help Intel here a great deal as the process can cut different die slices, which results in the ability to "…spec the chips to offer better performance on the GPU where you want it." A New Battlemage? Meanwhile, Intel's Battlemage GPU line has proven to be a big draw in its own right, and a new version, the B770, could be on the way sooner than expected. Word about this development managed to show up in some of Intel's own software libraries, which are starting to set up support for the chip in question, even though it does not technically exist in the field yet. Reports suggest the new B770 will boast 32 Xe2 cores, 16 gigabytes of GDDR6 memory, a 256-bit interface, and a full PCIe 5.0×16 connection. There will even be multiple versions available, allowing users to pick the one that best suits their needs and budgets. Is Intel a Buy, Hold or Sell? Turning to Wall Street, analysts have a Hold consensus rating on INTC stock based on six Buys, 19 Holds and six Sells assigned in the past three months, as indicated by the graphic below. After a 101.41% rally in its share price over the past year, the average INTC price target of $39 per share implies 8.72% downside risk.