New York, January 24, 2026, 06:48 (EST) — Market closed.
Intel shares closed down 17% on Friday at $45.07, after the chipmaker’s first-quarter outlook revived worries about tight supply. Nvidia rose 1.5% and Advanced Micro Devices gained 2.3% in the same session.
With U.S. markets shut for the weekend, Intel is set up as a key name for Monday’s open. The move was violent enough to force a rethink on positioning, not just in Intel but in parts of the chip complex.
Intel said it has struggled to satisfy demand for server chips used in artificial intelligence (AI) data centers, at a time when investors want proof that the AI buildout is turning into revenue. “It’s a ‘show-me’ period,” said Julian McManus, a portfolio manager at Janus Henderson, pointing to a sharper divide between winners and laggards. Reuters
Intel reported fourth-quarter revenue of $13.7 billion, down 4% from a year earlier, and non-GAAP earnings per share — which strips out certain items — of 15 cents; on a GAAP basis it posted a 12-cent loss per share. For the first quarter, it forecast revenue of $11.7 billion to $12.7 billion and non-GAAP EPS of zero, with supply expected to be “at its lowest level in Q1,” CFO David Zinsner said. Chief Executive Lip-Bu Tan said the company has begun shipping its first products on Intel 18A, its newest in-house chipmaking process. Intel
Zinsner also warned that higher prices for key components, including memory used alongside central processing units (CPUs) in PCs and servers, could cap results. “Rising component pricing … could limit our revenue opportunity this year,” he said in a statement. Investopedia
Bank of America analyst Vivek Arya said the stock had gotten “well ahead of Intel’s capability to deliver a competitive/profitable business model,” and raised doubts around Intel’s foundry push — making chips for outside customers. Tan told investors the turnaround would take “time and resolve.” Axios
In a separate 8-K filing on Friday, Intel said it filed a new shelf registration statement and a prospectus supplement linked to shares and warrants held by the U.S. Department of Commerce under a 2025 purchase agreement. Intel said the paperwork did not itself represent a sale, and that it would not receive any proceeds if the government sells. SEC
But the call also underlined execution risk: management said buffer inventory is depleted and Tan said yields, while tracking internal plans, are still not where he wants them. If supply stays tight longer or component costs rise faster than Intel can absorb, the margin squeeze could deepen just as rivals fight harder for data-center share. The Motley Fool
The next hard date for the week ahead is the Federal Reserve decision on January 28, when policymakers release their statement at 2 p.m. ET and Chair Jerome Powell speaks 30 minutes later — a macro test for risk appetite that can spill quickly into chip stocks. federalreserve.gov
