TLDR
- Intel reports Q1 2026 earnings after market close on Thursday, April 23
- Analysts expect EPS of $0.02, up ~90% year-over-year, with revenue of $12.42 billion
- The stock is up over 78% year-to-date, hitting a 25-year high of $70.32
- Stifel Nicolaus raised its price target from $42 to $65, maintaining a Hold rating
- Options traders are pricing in a move of ~10% in either direction post-earnings
Intel is set to report Q1 2026 results after the bell on Thursday, April 23. The stock has had a strong run this year, up more than 78% year-to-date, touching a 25-year high of $70.32.
Wall Street expects earnings of $0.02 per share for Q1, a roughly 90% jump from the same period last year. Revenue is forecast at $12.42 billion, which would be a 2.2% dip year-over-year.
In its last earnings report in January, Intel beat estimates with EPS of $0.15 against an expected $0.08. Revenue came in at $13.67 billion, topping the $13.37 billion forecast.
Investors will be watching for updates on Intel’s 18A manufacturing process and its involvement in Elon Musk’s Terafab AI chip project. Progress on cost cuts and new AI chip roadmaps will also be in focus.
RBC Capital analyst Srini Pajjuri kept a Neutral rating with a $48 price target. He expects a modest beat, helped by solid server CPU demand, but flagged wafer supply constraints as a potential drag.
Pajjuri also noted that Intel’s current valuation already prices in a lot of optimism around its foundry business and Terafab. He cautioned that progress on the 14A process and advanced packaging could take time to show up in revenue.
Raymond James analyst Simon Leopold reiterated a Market Perform rating after lifting his estimates. He cited Intel’s buyback of the remaining stake in Fab 34 and a shift in product mix based on Asia supply chain checks.
Those checks pointed to weaker PC demand, but stronger data center and AI trends are helping to offset that. Leopold also flagged potential upside from projects tied to Elon Musk’s companies.
Analyst Price Targets
Stifel Nicolaus raised its price target from $42 to $65, while keeping a Hold rating. That target still implies about 5% downside from current levels.
Susquehanna lifted its target from $45 to $65 with a Neutral rating. Melius Research set a $75 target. Tigress Financial maintained a Buy with a $66 target.
The consensus rating across Wall Street is Hold, based on six Buys, 27 Holds, and six Sells. The average price target sits at $52.51, well below where the stock is currently trading.
Options Market Pricing In a Big Move
Intel opened at $68.50 on Monday, with a 52-week range of $18.25 to $70.32. The stock has a market cap of $342.16 billion.
On the insider front, EVP Boise April Miller sold 20,000 Intel shares in early February at $49.05 each. EVP David Zinsner bought 5,882 shares in late January at $42.50 per share.
For the full fiscal year, analysts currently model a loss of $0.11 per share for Intel.
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