TLDR
- INTC fell ~2.77% in premarket Friday, trading around $109.42, as investors pulled back from large-cap tech
- The drop follows a strong run — INTC is still up 372% over the past 12 months
- Intel is trading below its 20-day and 50-day SMAs, with RSI at a neutral 45.25
- Q2 earnings are due July 23; analysts expect EPS of $0.19 and revenue of $14.40 billion
- Stifel raised its price target to $120 (from $75), maintaining a Hold; HSBC targets $200 with a Buy rating
Intel stock slipped in premarket trading on Friday, falling 2.77% to $109.42 as investors trimmed exposure to large-cap technology names.
The move is part of a broader sector pullback, with Nasdaq futures down 0.36% and S&P 500 futures off 0.07% at the time.
Given INTC is still up 372.46% over the past 12 months, Friday’s early dip looks more like profit-taking than anything structural.
Thursday was a different story. Semiconductor stocks caught a bid after Meta Platforms said it plans to double its in-house compute capacity to 14GW next year.
Micron also announced plans to increase U.S. investments to more than $250 billion through 2035, which gave the sector a short-lived boost before Friday’s reversal.
Technical Levels to Watch
At $110.58, Intel is sitting 11.4% below its 20-day SMA of $124.44 and 5.4% below its 50-day SMA of $116.50.
The stock is still well above its longer-term averages — 31% above the 100-day SMA and 77.6% above the 200-day SMA — so the longer-term trend remains intact.
RSI sits at 45.25, which is neutral. Bulls want to see INTC reclaim the 50-day SMA quickly to confirm the pullback is just a pause.
Key resistance sits at $126.50. Key support is at $102.50 — the level buyers are likely to defend if selling continues.
A golden cross formed back in August 2025, with the 50-day SMA still above the 200-day SMA, keeping the bigger picture constructive.
Earnings and Analyst Views
Intel reports Q2 results on July 23. The Street is looking for EPS of $0.19 and revenue of $14.40 billion.
Stifel raised its price target to $120 from $75 on Friday but kept its Hold rating. The firm flagged risks around longer-term CPU and GPU commentary versus elevated market expectations.
Stifel noted that server CPU average selling prices and GPU yields will be key drivers of any Foundry improvement.
HSBC took a more bullish stance, raising its target to $200 from $100 and maintaining a Buy, citing Intel’s growing foundry capacity and increased external customer engagement.
Analysts broadly expect Intel to be profitable in fiscal 2026, with EPS forecast at $1.12 — a sharp swing from the $0.67 loss posted over the last twelve months.
The Philadelphia chip index surged roughly 94% in the first half of 2026, driven by data center demand and rising capital spending from major tech players.
Intel Capital was among the investors in SambaNova’s recent $1 billion Series F funding round, which valued the AI chip firm at $11 billion.
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
