TLDR
- Intel stock fell nearly 2% in premarket Wednesday, pulling back after a strong run close to its 52-week high of $142.35
- INTC surged 216% in Q2 2026, adding roughly $480 billion in market cap as investors rotated into AI infrastructure hardware
- Jim Cramer named Intel his favorite tech winner of the quarter, citing CEO Lip-Bu Tan and three key growth drivers
- Q2 earnings are due July 23; analysts expect EPS of $0.19 vs. a loss of $0.10 a year ago, with revenue seen at $14.40 billion
- Consensus rating remains Hold with an average price target of $93.93, well below current trading levels
Intel (INTC) stock was trading at $137.44 in premarket Wednesday, down 1.57%, as investors locked in gains after one of the most dramatic runs in the chip sector in years.
The pullback comes after INTC surged 216% in Q2 2026, adding roughly $480 billion in market cap. That’s the kind of move that invites profit-taking, especially when broader market futures are leaning negative.
Nasdaq futures were down 0.54% and S&P 500 futures slipped 0.31%, putting tech stocks broadly under pressure before the open.
Intel’s move higher wasn’t in isolation. Micron and AMD also more than tripled during the quarter, with the three companies collectively adding around $2 trillion in combined market cap. They now rank as the 10th, 11th, and 12th most valuable U.S. tech companies.
The driver? A rotation out of AI hyperscalers and into the companies building the infrastructure underneath them — the hardware suppliers, chip packagers, and foundries.
Barclays analyst Anshul Gupta told CNBC that investors moved money into companies supplying the hardware needed to build AI infrastructure. That shift benefited Intel alongside Marvell, Arm Holdings, AMD, and Micron.
Cramer Picks Intel as His Favorite
CNBC’s Jim Cramer singled out Intel as the standout tech winner of Q2, pointing to three specific catalysts: Intel’s CPU leadership for AI agents, its higher-margin chip packaging business, and its growing foundry operations.
Cramer credited CEO Lip-Bu Tan for turning the company’s narrative around and grouped Intel with Sandisk, Micron, Marvell, and AMD as key suppliers riding broad semiconductor demand.
He went as far as calling Intel “a national treasure,” citing its potential role in easing the industry’s memory shortage.
Intel’s most recent quarterly results backed some of that enthusiasm. The company reported EPS of $0.29 in Q1, beating the $0.01 consensus estimate by a wide margin. Revenue came in at $13.58 billion, above the $12.32 billion estimate and up 7.4% year over year.
Earnings Due July 23
The next major test is Q2 earnings on July 23. Analysts expect EPS of $0.19, compared to a loss of $0.10 a year ago. Revenue is projected at $14.40 billion, up from $12.86 billion in the prior-year period.
Technically, the stock is trading about 13% above its 20-day moving average of $121.79 and around 132% above its 200-day moving average of $59.34. The MACD remains above its signal line, suggesting momentum is still intact despite the dip.
Traders are watching resistance near $141.50. A break above that level puts the 52-week high of $142.35 in range.
Analyst sentiment is more cautious than the price action suggests. The consensus rating is Hold, with an average price target of $93.93 — well below where the stock is currently trading.
Recent price target raises tell a different story: Bank of America raised its target to $160 with a Buy rating on June 23, Goldman Sachs started coverage at $150 Neutral on June 25, and Cantor Fitzgerald raised its target to $150 Neutral on June 29.
Walker Asset Management also disclosed a new $235,000 stake in Intel during Q1, while institutional investors collectively hold 64.53% of the stock.
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