Datacentre and memory are the areas which will propel this growth, according to Swan.

The growth in market cap will also be driven by constant cost-cutting.

The plan envisages that Intel’s datacentre business will grow 10% annually till 2021, its memory business will grow 33% annually and its IoT business will grow 13% annually. PC is expected to shrink 1% annually.

These growing sectors will increase Intel’s market cap at a CAGR of 11% over the 2016-2031 period.

Intel’s share proce has grown 22% over the last two years – although the SOX has grown 80% in that time.

Intel expects to continue to cut headcount, last year it lost 15,000 jobs.