Despite the multiple tailwinds affecting the chipmaker in June, Wall Street appears to be cooling off on Intel (NASDAQ: INTC) following its 207.52% year-to-date (YTD) upsurge to $121.10.

Indeed, both new price targets issued on Wednesday, June 17, showed a lack of confidence that INTC shares have much room to rise in the coming 12 months, though analysts refrained from forecasting a significant downturn or issuing a ‘Sell’ recommendation.

To begin with, Mizuho Securities’ Vijay Rakesh estimated on the day that Intel stock would rise another 5.7% in the next 52 weeks and trade at $128.

On the same day, Stacy Rasgon of Bernstein opted for a slightly bearish 12-month price target of $100, effectively forecasting INTC would retrace 17.42% from its latest closing price.

Notably, both Wall Street analysts issued a ‘Hold’ rating to the equity while Rasgon’s prediction, despite being the more pessimistic one, was, nonetheless, an upgrade from the previous $65.

Jim Cramer names INTC stock its top pick as Trump unveils Intel-Apple partnership

Meanwhile, a popular TV analyst – the former hedge fund manager Jim Cramer – declared that Intel stock was his top pick on June 17, despite the magnitude of the preceding rally.

The Mad Money host explained that, while he usually refrains from accumulating shares that have recently enjoyed substantial rallies, Intel benefits from multiple powerful tailwinds, including its nascent foundry business and the central processing unit (CPU) demand driven by artificial intelligence (AI). 

Furthermore, Cramer’s optimism was seemingly vindicated late on Wednesday by a social media post published by President Donald Trump that helped INTC stock soar 8.48% in the Thursday pre-market:

And, finally, Apple has agreed to work with Intel to design and build its Chips in America. We decided to help Intel in exchange for 10% of their shares. Is that too much or, too little? They were worth around 100 Billion Dollars when we made our offer. Now they are worth over 600 BILLION DOLLARS!

Specifically, the commander-in-chief revealed that Intel and Apple (NASDAQ: AAPL) have agreed to cooperate. Lastly, and in an interesting turn, Jim Cramer himself published an X post on Thursday morning that he could not confirm the President’s claim.

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