Intel Corporation (NASDAQ:INTC) stock could surge more than 30% over the next two years, says a report from Barron’s. That would put the stock at around 16 times future earnings estimates, which is the same price to 2014 earnings ratio it is trading at now.

Intel Corporation Could Soar 30 Percent In Two Years: Barron’s

Intel shares relatively cheaper

Shares of the chipmaker soared over $35, and the stock has covered half the distance to the five-year doubling target given by Barron’s in June 2013, but now is not the time for the stock to reach the target, according to the website. According to FactSet, Intel is cheaper to the Standard & Poor’s 500 Index, considering expected earnings for the next four quarters.

“That’s where it was at the time of our earlier story and we continue to see promising signs,” notes the report.

Intel discusses 2015 Roadmap

Recently the company talked about its 2015 roadmap during its annual investor day. Top-line executives talked about their plans for processors in 2015, especially for PC clients and the mobile and communication space.

Kirk Skaugen, general manager of the PC client group, said he is expecting the PC business to move forward at a higher speed than expected, as the PC is becoming more personal due to new shapes and designs, and also because performance requirements are increasing in a number of segments. Other reasons for the growth are new and improved user experiences with the company’s RealSense 3D camera solution.

Another update given by Skaugen was that the 14nm Core M systems have already started shipping for the holiday season, and the advanced fifth generation Core systems will hit the shelves in early spring, after which the Braswell chip will succeed Bay Trail–M for Celeron and Pentium branded processors. At the end of fiscal 2015, the chipmaker could launch its sixth-generation core processor known as Skylake, which will use 14nm processors but will come with a new architecture.

On the mobile front, there were more changes announced during investors’ day. Hermann Eul, general manager of the mobile and communications group, discussed how the company is following its road map of shipping 40 million tablet processors this year, which would bring Intel into the position of the second largest maker of tablet chips and the largest independent vendor.