Intel set to rise on move into mobile - reports

Shares of computer chip maker Intel Corp could rise as much as 50 percent over the next two years as the company pushes into smartphones and other wireless mobile devices, according to a report in Barron's financial newspaper.

The growth in cloud computing -- the storage and transmission of remote data -- should also give Intel shares a boost as several major storage providers use Intel processors in their servers, the report in the May 28 edition of the weekly newspaper said.

Intel's new lower-power chips will grab a bigger share in smartphones in India, China, France, the U.K. and the United States over the next several months, the report said.

"Intel will be a formidable competitor in the smartphone and tablet markets shortly," Todd Lowenstein, a portfolio manager for HighMark Capital Management, is quoted as saying in the Barron's article, adding that has not yet been factored into the share price.

He has a 24-month price target of $38 to $40 on Intel shares. They closed at $25.74 on Nasdaq on Friday.