#bank of america Tech News.

Bank of America double-upgraded Intel to Buy from Underperform and raised its price target to $135 from $96. The upgrade follows healthier visibility in server demand. Intel still faces fierce pressure from Nvidia, AMD, and Arm-based chip designs, while its foundry strategy remains one of the most expensive bets in semiconductors.

Bank of America managing director Cameron Wadley, who holds over 40 patents, said innovation is not siloed at the bank. His patents, including those powering the AI assistant Erica, are used across all eight business lines and employee tools. Ideas start with customer problems and are evaluated for feasibility, risk, and scale.

Amazon launched Amazon Supply Chain Services, turning its internal supply chain into a business for other companies. Bank of America reset its stock forecast on Amazon following the launch. The move follows Amazon's pattern of building internal systems and then offering them as external services, as it did with AWS.

Bank of America revised its server CPU sales forecasts for AMD in April. AMD stock has gained roughly 128.45% year to date, far outpacing the S&P 500's 8.47% gain. The rally is driven by the AI boom and strong earnings reported on May 5.

Bank of America upgraded Intel to Buy from Underperform and raised the price target to $135 from $96. Analysts project Intel's 2030 EPS above $6, driven by agentic CPU sales over $40 billion and external foundry revenue exceeding $45 billion. Institutional ownership stands at just 16%.

Bank of America analysts warned the stock market rally may be too good to last, with Wall Street still reliant on the turbulent AI trade. The S&P 500 rose just 0.1% from May 8 to June 8, barely moving. BofA said the easy part of the rally is over as investors take profits.

Apple shares fell 3.64% on June 9 after WWDC lacked major surprises. Bank of America sent a clear message supporting the stock. The event introduced a rebuilt Siri experience and AI-powered features for Safari, Shortcuts, and Messages, but Wall Street focused on Apple's long-awaited next-generation Siri.

Bank of America raised its Oracle stock price target after Oracle reported remaining performance obligations jumped 325% year over year to $553 billion in a single quarter. The surge reflects strong contracted future revenue tied to cloud and AI demand, reshaping Oracle's growth narrative.

Bank of America Co-President Jim DeMare discussed the bank's focus on wealth and business continuums at the Morgan Stanley US Financials Conference 2026. DeMare and Dean Athanasia have served as Co-Presidents for about 9 months, tasked with driving growth across lines of business and finding synergies in tech and operations.