Shares in microprocessor maker Intel Corp (INTC.O) could rise more than 30 percent to $48 over the next two years, Barron's reported in its Nov. 24 edition.

With shares recently at over $35, the stock is halfway to the five-year doubling Barron's said it predicted in June of 2013, but now is not the time, the weekly magazine advised.

Barron's said that in two years' time, the 30 percent rise would put shares trading at around 16 times future earnings estimates, the same price to 2014 earnings ratio that it now trades at.