July 7, 2026, 7:12 AM EDT. Intel (NASDAQ:INTC) fell 4.69% to $116.47 in premarket, giving back some ground after gaining 1.54% the previous session. Analysts quickly hiked Intel's Q2 EPS outlook to 21 cents, up from 8 cents-an increase of 162.5%, well ahead of sector trends. Still, shares now trade above the $107.40 target on average, so upside looks capped ahead of the July 23 report. Intel guides for 20 cents in Q2 non-GAAP EPS with sales between $13.8B and $14.8B. Sector-wide, tech EPS estimates rose 8.7% in the stretch. Some investors remain uneasy about Intel's earnings strength after AI investments. Chips as a group pulled back, with Nasdaq 100 futures off 0.9% and names like Micron and Western Digital lower too.
