New York, June 16, 2026, 09:51 (ET)
- Intel was little changed at $127.80 in early trade Tuesday, having swung from $124.70 up to $128.01.
- Intel added nearly 4% in Monday’s AI-driven chip rally, while the Philadelphia Semiconductor Index set a new high.
- Intel’s Q2 report is up next for investors, who want numbers on revenue and margins along with any concrete signs of new foundry deals.
Intel Corporation shares were mostly flat in early trade Tuesday, down 0.05% at $127.80, after chip stocks ran up on Monday. That keeps Intel’s market value near $649 billion. Tuesday’s small decline follows a sharp move higher in the group, as memory and data-storage names jumped and the Philadelphia Semiconductor Index set a new high, up more than 4%.
Intel shares have been moving with the chip index because traders are betting on a turnaround and see it as an AI-infrastructure play, instead of just a PC chip name. The foundry business—making chips for outside clients—now drives a lot of the stock’s value. Last week, Reuters said Google ordered more than three million TPUs from Intel for 2028, citing The Information, though Reuters said it couldn’t confirm it. A win like that would help Intel take business from TSMC, but with no hard confirmation, Intel’s stock stays vulnerable to these kinds of headlines.
Intel posted Q1 revenue of $13.6 billion, a 7% gain from last year, with non-GAAP EPS at $0.29. Non-GAAP EPS strips out some accounting charges. For Q2, Intel sees revenue coming in between $13.8 billion and $14.8 billion and targets non-GAAP EPS of $0.20. CEO Lip-Bu Tan said the move to AI is “significantly increasing the need for Intel’s CPUs and wafer and advanced packaging offerings.” Bulls and bears both found something here. The big question is if Intel can meet its Q2 targets and turn AI and foundry momentum into higher margins instead of just headlines. Intel
Intel bulls point to the company picking up recognition for its U.S. manufacturing, AI server demand, and potential big outside chip deals. Bank of America’s recent double upgrade to Buy from Underperform, and its $135 price target, played into that and pushed the stock higher. Bears stick to valuation and execution risks. Intel’s P/E ratio is still negative since EPS is in the red, so it’s tough to price the stock the usual way. Shares are trading close to the top of analyst targets collected by Investopedia, which put the mean target near $100 from Visible Alpha analysts at the time of BofA’s call.
Based on current facts, Intel is trading as a risk play, not a straight value buy. The setup could change if investors see solid foundry deals, better AI-driven CPU demand and gross margin gains. With the stock sitting near $128, a negative trailing P/E, and several big catalysts tied to future performance, this is a name for turnaround buyers, not clean-value seekers. Next up are Q2 revenue against the $13.8 billion to $14.8 billion range, non-GAAP gross margins, and signs of customer orders for Intel’s advanced node manufacturing.
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