Intel Stock (INTC) on December 2, 2025: Apple Foundry Buzz, Malaysia Expansion and Q3 Rebound Fuel a High‑Stakes Rally

Intel Corporation (NASDAQ: INTC) is back in the spotlight. As of December 2, 2025, Intel stock is trading around $40 per share, near its 52‑week highs and roughly double its level at the start of 2025. ^[1]

Behind that move is a potent mix of Apple foundry rumors, fresh government and partner capital, a return to profitability, and renewed AI ambitions—all offset by execution risk, legal overhangs and increasingly cautious Wall Street forecasts.

This article rounds up the latest Intel stock news, forecasts and analysis as of December 2, 2025, with a focus on what’s changed in just the past few days and what it could mean heading into 2026.

Intel Stock Price Today: Near Highs After a Wild Few Sessions

Last close (Dec. 1, 2025): about $40.01 per share, down ~1.4% on the day. ^[2]
Pre‑market / early trading Dec. 2: modest rebound above $40 in extended trading. ^[3]
52‑week range: roughly $17.7 to $42.5, putting today’s price very close to the top of the range. ^[4]
Market cap: around $190–200 billion at current levels. ^[5]

After plunging in 2024, Intel shares have rebounded by about 90–100% in 2025, helped by a series of strategic investments from the U.S. government, Nvidia and SoftBank, along with growing optimism around AI and manufacturing. ^[6]

The latest leg of the rally came from speculation that Apple could become a major foundry customer, followed by a pullback as analysts dug into the details.

Apple Foundry Rumors: Big Headline, Smaller Near‑Term Dollars

The Black Friday spike

On Friday, November 28, Intel became the best‑performing stock in the S&P 500, jumping more than 10% in a shortened trading session after a widely followed analyst suggested Apple might tap Intel as an advanced‑node chip supplier as soon as 2027. ^[7]

TF International Securities analyst Ming‑Chi Kuo posted on X that his “industry surveys” show the odds have “recently improved significantly” that Intel will ship Apple processors—specifically lower‑end M‑series chips—around Q2 or Q3 2027. ^[8]

Multiple outlets reported that:

Intel stock popped over 10% on the day. ^[9]
The move pushed INTC to a new 52‑week high near $40.7, with market cap swelling toward $194 billion. ^[10]

The Monday reality check

By Monday, December 1, the mood had cooled. Intel shares fell about 1.5%, giving back part of Friday’s surge as commentators highlighted that: ^[11]

The initial volumes for Apple’s lowest‑end M processors would likely be relatively small.
Apple is expected to remain heavily dependent on TSMC for its main iPhone, iPad and Mac chips “for the foreseeable future.”
The timeline hinges on Intel delivering a robust 18A process design kit in early 2026 and then executing nearly flawlessly.

In other words, the Apple narrative is massively important symbolically—as validation of Intel’s foundry strategy and U.S.-based manufacturing push—but the near‑term revenue impact looks modest compared with TSMC’s dominant position. ^[12]

New Today: Intel’s $208 Million Malaysia Expansion

The freshest headline on December 2, 2025 is about capacity, not customers.

Malaysia’s Prime Minister Anwar Ibrahim announced that Intel will invest an additional 860 million ringgit (about $208 million) in Malaysia for assembly and testing operations, following a meeting with Intel CEO Lip‑Bu Tan. ^[13]

Key context:

Intel had already committed $7 billion in 2021 to build an advanced chip packaging plant in Malaysia, underscoring the country’s role as a key hub in Intel’s global back‑end manufacturing network. ^[14]
Third‑party coverage notes that the new investment reinforces Malaysia’s position in the global semiconductor supply chain and broadens Intel’s footprint for advanced packaging crucial to AI and high‑performance compute chips. ^[15]

For investors, the Malaysia news doesn’t change the story overnight, but it confirms Intel is still leaning hard into global capacity expansion even as it trims costs elsewhere.

Q3 2025 Earnings: Back to Growth and Profitability

Intel’s Q3 2025 results, reported on October 23, marked a genuine turning point on the income statement. ^[16]

From Intel’s own release and follow‑up coverage:

Revenue:$13.7 billion, up 3% year over year.
GAAP EPS:$0.90, versus a loss of $3.88 in Q3 2024.
Non‑GAAP EPS:$0.23, compared with a loss of $0.46 a year earlier.
Gross margin: roughly 38% GAAP / 40% non‑GAAP, more than 20 percentage points higher than in Q3 2024 as cost cuts kicked in.
Operating margin: swung from a deep loss to a mid‑single‑digit GAAP profit and a low‑double‑digit non‑GAAP margin. ^[17]

By segment, Q3 showed:

Client Computing Group (PCs): about $8.5 billion in revenue, up ~5% year over year as PC demand stabilized and AI PC themes gained traction. ^[18]
Data Center and AI: roughly $4.1 billion, down ~1% from last year, highlighting that Intel is still fighting for share against AMD and Nvidia in the data‑center space. ^[19]
Intel Foundry (IFS): about $4.2 billion in revenue, down ~2%, and still generating substantial operating losses, reflecting heavy investments and sub‑scale economics. ^[20]

Importantly, Intel generated around $2.5 billion in operating cash flow in the quarter, giving it more breathing room as capex climbs. ^[21]

Guidance and 18A yield reality

For Q4 2025, Intel guided to revenue of $12.8–$13.8 billion and a non‑GAAP EPS around $0.08, with gross margin expected to dip to the mid‑30s as product mix shifts and Altera is deconsolidated. ^[22]

On the earnings call, CFO David Zinsner offered two crucial updates: ^[23]

Demand is strong enough that Intel is “under‑shipping” customer needs, especially in data‑center CPUs tied to AI workloads.
Yields on the 18A manufacturing process are “not where [Intel] need[s] them to be” and may not reach industry‑acceptable levels until 2027.

That last point is central to the Apple story—and to Intel’s foundry ambitions generally. The company is effectively asking investors to wait until at least 2027 for its most advanced node to hit full stride, even as it spends heavily today.

Massive Capital Injections: Government + Nvidia + SoftBank

One reason Intel’s turnaround has regained credibility in 2025 is the sheer amount of fresh capital behind it.

Between Intel’s Q3 press release and detailed reporting from Reuters: ^[24]

The U.S. government agreed to invest about $8.9 billion for a 10% equity stake in Intel as part of a broader arrangement tied to domestic manufacturing and national security goals.
Nvidia committed $5 billion for roughly a 4% stake, with the two companies also announcing a collaboration on custom data‑center and PC products that combine Intel CPUs with Nvidia’s AI platforms.
SoftBank invested $2 billion, adding another deep‑pocketed partner to the cap table.
Intel sold a 51% stake in its Altera programmable chip unit to private‑equity firm Silver Lake, unlocking cash and reducing capital intensity in that business.

Taken together, that’s more than $15 billion of private capital plus nearly $9 billion of public funding, alongside generous CHIPS Act incentives and state‑level subsidies for fabs in Arizona, Ohio, Oregon and New Mexico. ^[25]

For shareholders, the upside is obvious: a fortified balance sheet and resources to chase leading‑edge manufacturing. The trade‑off is substantial dilution and pressure to deliver on an even more ambitious roadmap.

Leadership Shake‑Up and AI Focus

2025 has also reshaped Intel’s leadership:

Former Cadence boss Lip‑Bu Tan became Intel’s CEO in March 2025, after Pat Gelsinger was ousted late in 2024. ^[26]
In November 2025, Intel’s CTO Sachin Katti left to join OpenAI, where he will lead compute‑infrastructure work for AGI research. ^[27]
In response, Tan personally took over Intel’s AI and Advanced Technologies Group, a move widely read as signaling that AI is now a CEO‑level priority. ^[28]

Reporting on the reshuffle notes that Intel has: ^[29]

Flattened its management structure,
Promoted internal engineering leaders,
Recruited outside veterans from Arm and other chipmakers to strengthen manufacturing and data‑center execution.

Investors initially welcomed the shift, with one recent article noting Intel’s stock had gained roughly 92% year‑to‑date around the time of the AI leadership news. ^[30]

Wall Street Ratings: Consensus “Hold,” Targets Lag the Price

Despite the big 2025 rally, analysts are far from unanimously bullish on Intel stock today.

Across several major aggregators:

TipRanks shows a “Hold” consensus from 34 Wall Street analysts, with 3 Buy, 25 Hold, 6 Sell ratings. The average 12‑month price target is $36.07, with a high of $52 and a low of $20—about 11% below the recent price near $40.5. ^[31]
MarketBeat lists an average target around $34.84, again implying downside from current levels. ^[32]
StockAnalysis.com reports an average target of $31.98 from 28 analysts, about 20% below the latest price, with an overall “Hold” rating. ^[33]
A TradingView / GuruFocus summary cites 37 analysts with an average target near $35.5, high $52 and low around $18, and notes that this implies about 11% downside from a price of $40.01. ^[34]

Several valuation services go further. One “GF Value” estimate pegs Intel’s one‑year intrinsic value near $24, suggesting potential downside of roughly 40% from around $40 if earnings don’t ramp quickly. ^[35]

The picture that emerges:

Short‑term sentiment is strongly positive after a series of upside surprises and strategic deals.
Most analysts’ models have not caught up with the new share price and still sit in the mid‑30s or lower.
There is a wide dispersion of views, from sub‑$25 fair‑value estimates to bull cases above $50.

Quant and Technical Models: Bullish Now, Wary Later

Quantitative and technical services add another layer of nuance: TS2 Tech+1

StockInvest.us recently upgraded Intel to a short‑term Buy, citing a strong rising trend and modeling potential gains of roughly 40% over the next three months—though with notable downside risk if the stock breaks below mid‑$30s support.
CoinCodex projects a move toward the low‑$40s by late December 2025, but its one‑year and 2030 models point to prices closer to the mid‑$20s and upper‑teens, respectively, underscoring the risk that current momentum could overshoot fundamental value.

Model‑driven forecasts should always be treated with caution, but the common theme is clear:

Algorithms like the near‑term trend in Intel stock, but many of them are skeptical about longer‑term returns at today’s valuation.

Key Catalysts and Risks for Intel Stock Going into 2026

1. Apple: Rumor vs. reality

Any formal confirmation—or denial—of an Apple foundry deal would be a major catalyst.
Even if initial volumes are small, securing Apple as a reference customer for 18A would significantly boost Intel’s credibility with other potential foundry clients. ^[36]

2. 18A yields and foundry economics

Intel says 18A yields may not reach industry‑standard levels until 2027, which means margin pressure and foundry losses could persist. ^[37]
The entire investment case for Intel Foundry Services (IFS) hinges on proving that advanced‑node manufacturing can be both competitive and profitable at scale, something it has yet to demonstrate.

3. Government and strategic funding

With the U.S. government, Nvidia and SoftBank now large stakeholders, Intel’s execution has geopolitical and strategic overtones beyond normal corporate performance. ^[38]
That backing is a tailwind, but it also raises the bar: Intel must show that tens of billions in new capital translate into durable earnings power, not just larger fabs.

4. Legal and competitive risks

Intel faces ongoing legal drama around alleged trade‑secret leaks from a former TSMC executive, part of the broader battle for advanced foundry leadership. ^[39]
Competition from TSMC, Samsung, Nvidia and AMD remains intense across PCs, data centers and AI accelerators. Even with recent wins, Intel is still playing catch‑up in many of the highest‑growth segments. ^[40]

5. Next earnings and AI roadmap updates

Several data providers point to January 29, 2026 as Intel’s next earnings date. ^[41]
That report will be the first full read‑out after the Apple rumor cycle, Malaysia expansion news and continued AI leadership reshuffle, and will likely include updated commentary on:
- AI PC adoption,
- Data‑center CPU and accelerator demand,
- IFS customer pipeline and 18A milestones.

What It All Means for Intel Stock Right Now

As of December 2, 2025, the Intel stock story is a classic tug‑of‑war between momentum and valuation:

Bullish arguments include: Reuters+3TS2 Tech+3Reuters+3

A dramatic earnings rebound in 2025 after a brutal 2024.
Massive strategic and government backing, which greatly reduces near‑term balance‑sheet risk.
Potential Apple foundry business, which, even at low early volumes, would serve as powerful validation of Intel’s advanced‑node technology.
A clearer AI narrative, with the CEO directly overseeing the AI group and forging partnerships with Nvidia and others.
Strengthening PC and data‑center demand, especially around AI‑enabled devices and infrastructure.

Cautious or bearish arguments include: ^[42]

The stock now trades near 52‑week highs and well above the average Wall Street price target, with many models signaling potential downside.
Foundry economics remain unproven, and 18A yields are still below where they need to be for healthy margins.
The Apple deal is still unconfirmed, with expected volumes modest relative to TSMC’s ongoing dominance.
Legal and governance noise, plus the sheer complexity of Intel’s restructuring, add headline and execution risk.
Several long‑term valuation frameworks see Intel as overvalued at today’s price unless earnings accelerate faster than currently forecast.

Final Thoughts and Disclaimer

Intel’s 2025 comeback has been one of the most dramatic turnarounds in large‑cap tech, driven by a rare mix of policy, politics, partnerships and genuine operational improvement.

For now, Intel stock (INTC) sits near the intersection of AI, geopolitics and advanced manufacturing—which is exactly why its price has become so volatile around each new headline, from Apple rumors to Malaysia expansions.

This article is for informational and news purposes only and does not constitute investment advice, a recommendation or a solicitation to buy or sell any security. Intel stock can be volatile, and future performance will depend on factors that are uncertain and subject to change. Anyone considering an investment in INTC should do their own research, review official filings and earnings materials, and, where appropriate, consult a qualified financial adviser.

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