NEW YORK, July 22, 2026, 06:13 EDT
- Intel shares fell 2.9% to $102.34 as of 6:09 a.m. EDT.
- Tuesday’s increase of 8.64% outperformed the chip index by 3.44 percentage points.
- Early consensus forecasts revenue of $14.44 billion with adjusted EPS expected at $0.22.
Intel jumped on Tuesday, consuming 72% of the option-implied gains from Monday ahead of Thursday’s earnings. Shares dropped 2.9% in premarket trading on Wednesday.
The comparison is significant as the expected range on Monday implied a 12% move by Friday. A quarter that simply meets expectations could find it difficult to build on Tuesday’s surge. U.S. markets were shut during regular hours, while premarket activity continued.
The stock finished Monday at $97.06. A 12% increase would set the ceiling close to $108.71. Tuesday’s closing price of $105.45 was just 3.0% under that level.
The range reflects a moment in time and is not a firm limit. Option prices may fluctuate prior to the results.
| Tuesday performance | Closing price | Change | Gap versus chip index |
|---|---|---|---|
| Intel Corporation | $105.45 | +8.64% | +3.44 points |
| Advanced Micro Devices NASDAQ:AMD | $544.43 | +8.11% | +2.91 points |
| NVIDIA Corporation NASDAQ:NVDA | $207.29 | +1.97% | -3.23 points |
| PHLX Semiconductor Index (INDEXNASDAQ:SOX) | — | +5.20% | Baseline |
Intel exceeded the benchmark by 3.44 percentage points. The surge involved 105.4 million shares traded, which is 21% less than its 65-day average.
The change also offset some of last week’s losses. Intel dropped 13.5% during the week ending July 17. The chip index declined by roughly 10%.
Intel recouped 70% of last week’s dollar decline during the first two sessions this week. Despite the rebound, the shares are still trading 25.2% under their June 22 closing peak. For 2026, the stock has risen over 160%.
Lindsey Bell, chief investment strategist at 248 Ventures, attributed Tuesday’s market advance to optimism about earnings. She noted these gains “make it more difficult for them to run in response to earnings.” Reuters
Visible Alpha’s initial projections forecast quarterly revenue of $14.44 billion, an increase of roughly 12%. Adjusted earnings are expected to reach $0.22 per share. Intel reported an adjusted loss of $0.10 per share in the same period last year.
UBS Group NYSE:UBS analysts increased their price target to $121 from $83, pointing to higher demand for Intel’s data-center products. Investors are expected to monitor manufacturing performance and new foundry client developments.
Intel has also acknowledged impending layoffs in its data-center division, though it did not specify how many employees will be impacted. Thursday’s expense outlook is now seen as the stronger indicator of margins.
Intel is scheduled to report earnings after markets close on Thursday. The company’s conference call begins at 2 p.m. PDT. Options contracts will expire at the end of Friday’s trading session.
Risks are still significant. A disappointing foundry report, shrinking margins or declining PC demand could erase Tuesday’s advance. Conversely, a more optimistic server forecast could drive the stock above Monday’s anticipated range.
The market reacted in advance. Thursday’s figures are now held to tougher expectations.
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