NEW YORK, July 5, 2026, 10:11 (EDT)
- U.S. equity markets were shut Friday for the Independence Day holiday. Nasdaq and NYSE are set to resume trading Monday.
- Intel dropped 13.8% in two days after its record high on June 30, but about $15.0 billion in shares still changed hands Thursday.
- Intel saw turnover hit 2.5% of its market value, which is over four times the same-day turnover ratio at Nvidia.
- Next up for the company is July 23 earnings. Investors are watching server CPU results, foundry orders and margins.
Markets in the U.S. were closed Friday for Independence Day observed, so the latest Intel Corporation NASDAQ:INTC quote comes from Thursday’s session. Both Nasdaq and NYSE calendars show a full-day holiday for July 3, 2026, as well.
Intel shares slid 5.25% to $120.35 Thursday, but the bigger message was how much stock is trading versus Intel’s market cap. The company moved around $15.0 billion of stock by notional value that day—basically matching Advanced Micro Devices Inc NASDAQ:AMD, even though AMD has about $240 billion more in market cap.
| Company | Last price | Last session move | Volume | Dollar turnover | Turnover / market cap |
|---|---|---|---|---|---|
| Intel Corporation NASDAQ:INTC | $120.35 | fell 5.2% | 125.0 mln | $15.0 bln | 2.5% |
| Advanced Micro Devices Inc NASDAQ:AMD | $517.82 | dropped 4.2% | 28.2 mln | $14.6 bln | 1.7% |
| Nvidia Corp NASDAQ:NVDA | $194.83 | lost 1.5% | 142.4 mln | $27.7 bln | 0.6% |
Turnover is in focus since Intel has turned into a packed bet for a rebound. Shares ended Thursday 15.5% off the $142.35 high hit on June 30, dropping 13.8% in just two sessions on both closing and intraday figures. For the week, starting from the prior Friday’s close and including the holiday break, the stock slipped 6.2%.
| Instrument | Thursday move | Week through Thursday | Fresh read |
|---|---|---|---|
| Intel Corporation NASDAQ:INTC | -5.25% | -6.2% | Dropped again after topping out June 30 |
| PHLX Semiconductor Index (INDEXNASDAQ:SOX) | -5.4% | n/a | Still showing a 78% year-to-date gain |
| Nasdaq Composite (INDEXNASDAQ:IXIC) | -0.8% | +2.1% | Chip losses weighed on growth stocks |
| S&P 500 (INDEXSP:SPX) | flat | +1.8% | Broader market steady |
| Dow Jones Industrial Average (INDEXDJX:DJI) | +1.14% | +2.0% | Set another record close |
Semiconductors fell as investors took profits and felt pressure on valuations. Bruce Zaro, managing director at Granite Wealth Management, told Reuters some traders were “taking profits” in chip names after a strong rally this year. Reuters reported the semiconductor index is still up around 78% for 2026. Reuters
Intel’s Monday reopen isn’t as straightforward as the headline price target hike might make it seem. HSBC’s Frank Lee raised his Intel target to $200 from $100 and left his Buy call unchanged, telling TipRanks the foundry business was “too good to ignore.” Lee mentioned design commitments could begin “starting 2H26.” TipRanks
The stock faded after the news. Shares fell even though Lee highlighted ties with Apple Inc NASDAQ:AAPL, Alphabet Inc NASDAQ:GOOGL, Nvidia, Microsoft Corp NASDAQ:MSFT, and Amazon.com Inc NASDAQ:AMZN. He also argued for Intel’s EMIB packaging as rival foundry capacity tightens.
Intel is on tap to report Q2 results after the bell July 23, with an earnings call set for 2 p.m. PDT. Back in April, Intel said it expects Q2 revenue of $13.8 billion to $14.8 billion, and projected non-GAAP EPS at $0.20 at the midpoint.
Investors will look at a few key numbers: Data Center and AI revenue, Intel Foundry revenue, gross margin, and comments on demand from external customers. In the first quarter, Intel posted revenue of $13.6 billion, a 7% increase. Data Center and AI revenue jumped 22% to $5.1 billion. Intel Foundry revenue was up 16% to $5.4 billion.
Intel didn’t get much of a lift from the day’s macro news. The U.S. posted 57,000 new jobs in June, missing the 110,000 forecast. Adam Sarhan, CEO at 50 Park Investments, told Reuters the softer number “takes the pressure off the Fed to raise rates in the short term.” The Dow ended higher but the Nasdaq dipped with weakness in chip stocks. Reuters
Fed minutes hit Wednesday, with ISM services due Monday. Trade data comes Tuesday, and jobless claims land Thursday. Delta Air Lines Inc NYSE:DAL and PepsiCo Inc NASDAQ:PEP are set to report early earnings. Matthew Miskin, co-chief investment strategist at Manulife John Hancock Investments, told Reuters investors will look to see “how incrementally hawkish are they leaning” in the Fed minutes. Reuters
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