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Here’s what all the major analysts had to say about Intel’s comeback plan that’s boosting the stock

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The Intel logo is displayed outside of the Intel headquarters in Santa Clara, Calif.

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Intel’s new CEO declared that the old Intel is “back” on Tuesday and announced plans for two new chip factories in Arizona, but some Wall Street analysts aren’t convinced.

The new manufacturing push will allow Intel to produce chips for other companies at a time where the global semiconductor supply chain is a growing area of concern. Investors initially cheered the surprise move from new CEO Pat Gelsinger, and shares were up 3.7% to $65.82 in premarket trading.

But the reaction from analysts to the new business venture, called Intel Foundry Services, was mixed.

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