New York, June 8, 2026, 04:40 (EDT)
Intel shares traded higher in pre-market hours Monday, with the stock showing some recovery after Friday’s slide took it under $100. Google Finance had Intel at $100.74 ahead of the open, up 1.6% from its Friday close of $99.17. The main Nasdaq session was still ahead, opening at 9:30 a.m. Eastern; pre-market runs from 4 a.m. to 9:30 a.m.
Intel’s move is in focus as the stock isn’t just seen as a PC-chip play anymore. Reuters said last week that Intel and Advanced Micro Devices have both surged more than 160% since the market hit its low in March. The rally is part of a run in chip stocks that lifted the S&P 500 technology sector to a new high for its share of the benchmark index’s market cap.
Nasdaq dropped 4.18% on Friday, while the S&P 500 shed 2.64%. The Philadelphia Semiconductor Index posted its biggest one-day percentage loss since March 2020, cutting more than $1 trillion in value after a strong U.S. jobs report cut odds for rate cuts. Chips were hit hard. Intel, Nvidia, AMD and Broadcom fell between 7.9% and 13.3%. “The dam just broke today,” said Ryan Detrick, chief market strategist at Carson Group. Wells Fargo’s Ohsung Kwon called the chip sector “way overbought,” but said the bull market for semis is not done. Reuters
Global equities dropped Monday, after new Middle East tensions pushed oil prices higher and investors pulled back from AI-linked stocks, Reuters said. South Korea’s KOSPI tumbled 8.3% and the Nikkei in Japan lost nearly 4%. “The market has gone a long way without a correction,” Danske Bank’s Lars Skovgaard said. Marc Velan of Lucerne Asset Management called it more a “positioning and momentum unwind” than a big turn against AI. Reuters
Intel news is turning a bit more positive, but details remain thin. Foxconn said Thursday it will partner with Intel on AI infrastructure and platforms, targeting data center gear built on Intel Xeon processors and AI accelerators. Foxconn Chairman and CEO Young Liu said the partnership would join their computing platforms, integration, and supply chain strengths. But Reuters said the companies didn’t disclose dollar figures, customer names, or a launch timeline.
Intel set its agenda at Computex two days ago, announcing rackscale AI infrastructure. The systems are designed for data centers using Xeon processors and gear from SambaNova and Foxconn. CEO Lip-Bu Tan said Intel wants to offer AI from “chip to systems level.” The company said its latest effort is aimed at inference, the part where AI models handle queries or complete tasks, not training. Intel
Investors aren’t buying every AI revenue pitch now. Broadcom shares tumbled more than 14% on Thursday as its results didn’t beat already high hopes for custom AI chips, which dragged other chip names down too. Matt Britzman at Hargreaves Lansdown called it “very high expectations,” while Bernstein’s Stacy Rasgon said the stock might “take a pause” for a few quarters. Intel faces the same pressure if new partnerships don’t show up as tangible orders and margin. Reuters
Intel’s big run is making some on the Street wonder if it’s gotten ahead of itself. The stock dropped about 14% this week but is still up almost 170% so far in 2026, according to Investopedia. Options were pricing in a possible swing of up to 9% either way by the end of this week.
Investors have little respite this week. U.S. consumer-price numbers come out Wednesday and could be key for rate bets. That matters for pricey growth stocks, which tend to get hit when rates go up, since higher yields cut the value of future profits. Reuters also reported that SpaceX’s possible listing may take focus and money out of the market.
At the open, traders were weighing one main question for Intel: was Friday just a shakeout after the recent rally, or is this the start of a tougher market for chip stocks tied to AI—Intel in that group.
