TLDR
- Intel reports Q2 2026 earnings after market close on July 23
- Analysts expect EPS of $0.22 and revenue of $12% year-over-year to $14.42 billion
- Consensus rating is Hold, with 10 Buys, 24 Holds, and 2 Sells
- Key price targets range from $65 (Sell) to $155 (Buy) among major analysts
- Intel’s 18A chip manufacturing node has reached ~85% yields, up from 65% last quarter
Intel (INTC) is set to report Q2 2026 earnings after the market closes on Thursday, July 23. INTC opened at $102.99 on Thursday, with a 52-week range of $18.97 to $142.35.
Wall Street expects EPS of $0.22, a sharp swing from a loss of $0.10 per share in the same period last year. Revenue is projected to hit $14.42 billion, up nearly 12% year-over-year. Intel’s own guidance calls for EPS of $0.20.
Last quarter, Intel beat expectations convincingly — posting $0.29 EPS against a $0.01 estimate, with revenue of $13.58 billion, up 7.4% year-over-year.
The stock carries a market cap of $517.63 billion and a beta of 2.18, meaning it tends to move sharply. Institutional investors hold 64.53% of the stock.
Analyst Targets Split Wide
Citi’s Atif Malik holds a Buy rating with a $130 price target, pointing to Intel’s CPU business and a forecast 47% CPU market share by 2030. KeyBanc’s John Vinh raised his target from $100 to $155, also with a Buy, citing improved manufacturing yields and foundry progress.
On the other side, Rosenblatt’s Kevin Cassidy raised his target to $65 from $50 but kept a Sell rating, warning that lower manufacturing yields could cap upside despite healthy CPU demand.
The average analyst price target sits at $113.72, implying roughly 19.66% upside from current levels.
Manufacturing Progress in Focus
A key data point heading into earnings: Intel’s 18A manufacturing node has reached approximately 85% yields, up from 65% last quarter. Intel has also confirmed it is using ASML’s High-NA EUV machine in production — the first chipmaker to do so — for chips including Core Ultra 3 and Panther Lake.
KeyBanc’s Vinh believes this progress could allow Intel to expand 18A capacity and attract more customers. He expects the next-generation 14A process to reach mass production in the second half of 2028.
Benchmark analyst Cody Acree, ranked #39 among over 12,000 analysts tracked by TipRanks with a 58% success rate, carries a Buy rating and a $140 price target. He believes investors are underestimating Intel’s earnings potential in 2027 and 2028, with the current focus on whether production can scale fast enough to meet demand.
Despite the positive manufacturing signals, the consensus rating remains Hold. Sentiment has improved, but traders are still watching for any sign of PC demand weakness or execution setbacks when Intel reports Thursday at 5:00 PM ET.
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