Intel has launched “Tiger Lake,” the 11th generation version of its core processor for thin-and-light laptops, which the chipmaker claims is 20% faster in its performance and has a better battery life than its predecessor.
Intel (INTC) said that the new 11th generation chips which integrate Intel Iris Xe graphics have “unmatched capabilities” for real-world productivity, collaboration, creation, gaming and entertainment across Windows and ChromeOS-based laptops. The chips promise to deliver up to 2.7x faster content creation, more than 20% faster office productivity and more than 2x faster gaming plus streaming in real-world workflows over competitive products, the company said.
The 11th generation of Intel core processors seek to optimize power efficiency while running at significantly higher frequencies versus prior generations. Intel said it expects more than 150 designs using the new chips from partners including Acer, Asus, Dell, Dynabook, HP, Lenovo, LG, MSI, Razer, Samsung and others.
In addition, Intel announced the launch of the Intel Evo platform brand for laptop designs, which is co-engineered through its Project Athena laptop innovation program. The Intel Evo platform-based designs will use the new Tiger Lake chips and are engineered to help remove lag, distractions and dependency on battery chargers.
“11th Gen Intel Core processors with Intel Iris Xe graphics are a major leap forward in real-world processor performance and are the best laptop processors we have built,” said Intel’s Gregory Bryant. “From productivity and content creation to entertainment and gaming, when you pick a system powered by 11th Gen Intel Core – especially one of our new Intel Evo co-engineered and verified designs – you know you are getting the best laptop experience possible.”
Shares in the California-based company, which is one of the few remaining in the world that both designs and manufactures its own chips, suffered last month after announcing on July 23, that its 7-nm transistor would be delayed until 2022. Following the announcement, analysts have been rushing to raise price targets on rivals such as AMD (AMD) and Taiwan Semiconductor, as they believe it would help them gain market share.
Intel shares rose 2.9% on Wednesday trimming the year-to-date decline to about 13%. (See Intel stock analysis on TipRanks).
Northland Securities analyst Gus Richard last month reiterated a Sell rating on the stock with a $48 price target.
“Intel is losing share to AMD and Apple is moving to its own CPU in notebooks,” Richard wrote in a note to investors. “Data points do not paint a positive picture for INTC in 2H and beyond. Intel is on the wrong track and headed for you the shareholder.”
Overall, the rest of the Street is sidelined on the stock. The Hold analyst consensus breaks down into 14 Holds and 9 Sells versus 8 Buys. The $56.58 average price target implies about 8% upside potential in the next 12 months.
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