“We believe (Intel) has a greater opportunity to restructure/turn things around under his leadership,” Bank of America’s Vivek Arya told clients in a note Thursday. Arya raised his rating on Intel’s stock to “neutral” from “underperform,” saying Tan brings deep expertise and connections throughout the interconnected semiconductor marketplace.

Wall Street analysts see Lip-Bu Tan's appointment as Intel's CEO as good news, but Intel employees are preparing for a major overhaul.