TLDR
- Intel stock surged ~6% in premarket trading Thursday, reaching around $139
- Micron reported record quarterly earnings of $25.11/share on $41.46B revenue, lifting chip sector sentiment
- Goldman Sachs initiated Intel coverage with a Neutral rating and $150 price target
- Bank of America raised its Intel price target to $160, maintaining its Buy rating
- Intel is approaching its 52-week high of $141.45, with earnings due July 23
Intel (INTC) stock jumped roughly 6% in premarket trading Thursday, hitting around $139, after a wave of positive catalysts hit the chip sector overnight.
The spark came from Micron Technology (MU), which reported record fiscal third-quarter results. Micron posted adjusted earnings of $25.11 per share on revenue of $41.46 billion, beating Wall Street estimates. The company also guided for fiscal Q4 adjusted earnings of around $31 per share on revenue of roughly $50 billion — well above expectations.
That print lit a fire under semiconductor stocks broadly. Intel, AMD, and others all caught a bid, though Intel’s move was sharpest.
Goldman Sachs analyst James Schneider added to the momentum Thursday morning, initiating coverage of Intel with a Neutral rating and a $150 price target. While not a ringing Buy endorsement, any fresh institutional attention at current levels tends to draw volume.
Bank of America had already set the table the night before. BofA reiterated its Buy rating and raised its Intel price target to $160, up from $135, citing updated semiconductor models that reflect AI-related spending visibility out to 2028.
Pelosi Disclosure Draws Retail Attention
Another piece of the premarket puzzle: a disclosure that Nancy Pelosi’s spouse purchased 200 Intel call options valued between $1 million and $5 million. The filing drew immediate retail attention, as Pelosi-linked trades tend to do, adding another layer of buzz to the session.
UBS also raised price targets on AMD and Arm, citing agentic AI-driven CPU demand. The note flagged Intel’s roadmap and supply challenges but broadly validated the CPU demand thesis — which supports the sector even where Intel has specific hurdles to clear.
The broader market wasn’t the tailwind here. The Nasdaq slipped modestly Thursday, and the S&P 500 was essentially flat. Intel’s move was its own story.
Technical Setup Heading Into Resistance
Technically, Intel is in a strong position — but it’s knocking on a ceiling. The stock sits 16.8% above its 20-day moving average, 30.9% above its 50-day, and 142.2% above its 200-day SMA of $57.17.
Key resistance sits at the 52-week high of $141.45. A clean break above that level could open up more upside. A rejection there would likely trigger some profit-taking after the recent run.
The MACD indicator is constructive — above its signal line with a positive histogram — suggesting buying pressure remains in place for now.
Intel carries a Hold consensus rating with an average analyst price target of $86.41, though recent actions from BofA and Goldman sit well above that average.
Intel is due to report quarterly earnings on July 23. Wall Street is looking for earnings of 19 cents per share — compared to a loss of 10 cents a year ago — on revenue of $14.40 billion, up from $12.86 billion.
Intel holds a 6.30% weighting in the iShares Semiconductor ETF (SOXX) and a 9.28% weighting in the iShares MSCI USA Value Factor ETF (VLUE).
Intel stock was up 5.58% at $139.00 in premarket trading Thursday.
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