Morgan Stanley is Recommending These 5 Stocks for 2024

2. Intel Corp. (NASDAQ:INTC)

Number of Hedge Fund Investors: 70

Morgan Stanley in December said Intel Corp. (NASDAQ:INTC) has a 4% upside to bull case in 2024. Earlier this month, Wedbush Securities counted Intel Corp. (NASDAQ:INTC) among the stocks it believes are poised to grow amid higher PC demand. Wedbush’s analyst Matt Bryson increased his price target on Intel Corp. (NASDAQ:INTC) shares to $45 from $35.

Bryson said a replacement of PCs cycle is coming as users prepare to buy new computers to replace the ones they bought during the pandemic days.

Upslope Capital Management stated the following regarding Intel Corporation (NASDAQ:INTC) in its fourth quarter 2023 investor letter:

“Intel Corporation (NASDAQ:INTC) – New Long: This is not a traditional long for Upslope in any sense. Intel is outside of the box in terms of typical sector and market cap focus, and the position is really a portfolio hedge (and structured as such). The thesis is very simple: Intel is uniquely positioned to benefit in two important scenarios, both of which require “protection” for Upslope’s portfolio: a continued melt-up in technology stocks and/or rising tensions over Taiwan. Combined with expectations and sentiment around Intel that were incredibly low, this nudged me to add exposure via long-dated INTC call options. While still material in terms of delta-adjusted exposure, the position has been reduced repeatedly and is much more modest today.”