Intel Corporation stock (NASDAQ: INTC) was little changed after the bell on Wednesday, Dec. 24, 2025, following a holiday-shortened session that still delivered big intraday swings. As of roughly 1:45 p.m. ET (the latest after-hours print available), Intel shares traded around $36.16, down about 0.6% versus Tuesday’s close, after ranging from roughly $34.48 to $36.49 during the day.
But the bigger story isn’t the close—it’s why Intel whipsawed and what investors should keep in mind heading into the next trading day.
First, a quick reality check: there is no U.S. market open tomorrow
Because Thursday, Dec. 25, 2025 is Christmas Day, U.S. equity markets are closed. Today’s session was also an early close, and major U.S. exchanges have indicated the next full trading day is Friday, Dec. 26, 2025. [1]
So when traders say “before the market opens tomorrow,” what they effectively mean this week is: what to know before Friday’s reopen, when liquidity and headlines can cause bigger-than-usual gaps.
What moved Intel stock today: the Reuters report everyone traded
Intel’s trading on Dec. 24 was dominated by a Reuters deep-dive centered on CEO Lip-Bu Tan, Intel’s political and funding backdrop, and—most market-moving—fresh reporting that Nvidia tested Intel’s 18A manufacturing process but “stopped moving forward,” according to sources. Reuters also noted Intel shares fell as much as 3.6% after the report published before paring losses. [2]
Intel, for its part, told Reuters its 18A technologies are “progressing well” and said it continues to see strong interest in its next-generation 14A process. [3]
Why that matters (even if you’re not a chip engineer)
Intel’s foundry strategy depends on convincing major chip designers (the kinds of companies that normally rely on TSMC or Samsung) that Intel’s leading-edge nodes can deliver:
- competitive performance and power,
- reliable yields and predictable ramps,
- and a supply chain customers trust.
In other words, it’s not just about Intel making great chips for itself. It’s about Intel becoming a credible manufacturer for others. Any headline implying a top-tier AI leader is not moving forward on a leading-edge node can hit sentiment fast—especially in thin holiday trading. [4]
After-hours and closing action: the numbers that matter tonight
Here’s what stands out from today’s tape:
- Last after-hours price (available): about $36.16
- Day’s swing: roughly $34.48 low to $36.49 high (a wide range for a “quiet” holiday session)
- Open: about $35.17, reflecting the downside shock early in the day
- Volume: roughly 37 million shares, notable given the shortened session
And for quick peer context at the same timestamp: Nvidia was modestly lower while AMD was slightly higher and TSMC was higher—suggesting the market treated today’s headline as largely Intel-specific, not a broad “semis are broken” event.
The broader market backdrop helped INTC stabilize
Intel didn’t trade in a vacuum. The overall market tone was constructive: U.S. stocks finished the shortened session higher, with the Dow and S&P 500 at record highs, consistent with “Santa rally” dynamics and year-end positioning. [5]
That matters because when risk appetite is strong, bad company-specific news sometimes gets absorbed rather than amplified—especially if investors view it as incremental rather than thesis-breaking.
Today’s most important Intel takeaway: the 18A narrative is still fragile
The Reuters report is notable not only for the Nvidia testing detail, but for the bigger message it sends about Intel’s turnaround: the company has powerful strategic backers and political leverage, but execution in leading-edge manufacturing remains the critical hinge point.
Reuters described how Tan secured a U.S. government investment (nearly a 10% stake) and how Intel later announced major investments from partners including Nvidia and SoftBank, helping create what the report called a “too-strategic-to-fail” aura. [6]
Yet, in the same piece, Reuters highlighted manufacturing challenges and framed Nvidia’s lack of forward movement on 18A as a reminder that funding and partnerships don’t automatically equal foundry customer wins. [7]
Forecasts and analyst views circulating today
Even without a new earnings release tonight, “forecast” content moved across the financial media today in three main forms:
1) Street-level models are still cautious on valuation
A widely followed consensus snapshot (compiled from sell-side analysts) shows Intel with a “Hold”-leaning consensus and an average target around the low $30s, with targets spanning roughly $20 to $52 (targets last updated earlier in November). [8]
Given INTC’s current price near the mid-$30s, that spread reinforces the market’s current reality: Intel is still a high-disagreement stock—with investors split between “foundry comeback” and “show-me execution risk.”
2) Earnings-estimate revisions are going in opposite directions by year
A Zacks commentary published today pointed to upward revisions for 2025 earnings estimates but downward revisions for 2026, and kept Intel at a neutral “Hold”-type stance. [9]
That’s a subtle but important signal: the market may be gaining confidence in near-term stabilization while becoming more conservative about how quickly (or how profitably) Intel can scale its longer-range strategy.
3) The near-term catalyst calendar is getting closer
Multiple market calendars currently estimate Intel’s next earnings report in late January 2026, with listings commonly pointing to Jan. 29, 2026 (after market close), though dates can still shift until Intel confirms. [10]
What to know before the next market open (Friday, Dec. 26)
With the U.S. market closed Thursday, the key question becomes: what could hit between now and Friday’s bell that changes the INTC setup?
1) Watch for any follow-up from Nvidia or Intel
Reuters reported Nvidia did not respond to a request for comment in its story. If Nvidia provides clarification—or if Intel provides additional color on customer engagement for 18A/14A—that can move sentiment quickly after today’s headline-driven trade. [11]
2) Expect thin liquidity dynamics and “gap risk”
Holiday weeks often bring wider spreads, more headline sensitivity, and bigger opening gaps—especially after a day like today where the stock already proved it can swing several percent intraday. [12]
3) Keep an eye on Intel’s key “reference levels”
Intel’s 52-week range (as tracked by major quote services) has been roughly $17.67 to $44.02, placing the stock well off the lows but also meaningfully below recent highs. [13]
Intel also traded near the low-to-mid $40s earlier in December, before sliding back into the $30s—levels many traders will treat as key reference points if momentum returns. [14]
4) Remember the SEC filing “noise” may be lower than usual
The SEC has announced EDGAR will be closed Dec. 24 through Dec. 26, with filings due those days treated as timely if filed on Dec. 29 (the next operational business day). That can delay formal disclosures and shift when certain updates become visible to the market. [15]
5) Macro sentiment remains supportive—but AI expectations are the real “tide”
Today’s record-high close in major U.S. indexes underscores that market tone is still upbeat into year-end. [16]
However, the 2026 setup being debated across Wall Street continues to hinge on AI spending and earnings delivery—an environment where Intel’s positioning (foundry + AI ambitions) can attract attention quickly on any incremental datapoint. [17]
6) “Strategic backstop” headlines can cut both ways
The Reuters reporting around Intel’s government-linked status and dealmaking momentum adds a layer of perceived support—but it also raises scrutiny around execution, governance, and the conditions attached to strategic funding. That tension is likely to remain part of the INTC narrative into the new year. [18]
Bottom line for INTC tonight
Intel stock ended Dec. 24 close to flat after-hours, but the day reinforced a core truth about this name heading into 2026: Intel’s upside case increasingly hinges on proving its advanced-node manufacturing can win and keep top-tier customers. The Reuters report about Nvidia and 18A injected fresh uncertainty into that thesis, even as the broader market rally helped contain the damage. [19]
This article is for informational purposes only and is not investment advice.
References
1. www.reuters.com, 2. www.reuters.com, 3. www.reuters.com, 4. www.reuters.com, 5. www.reuters.com, 6. www.reuters.com, 7. www.reuters.com, 8. stockanalysis.com, 9. www.nasdaq.com, 10. www.nasdaq.com, 11. www.reuters.com, 12. www.reuters.com, 13. www.investing.com, 14. stockanalysis.com, 15. www.sec.gov, 16. www.reuters.com, 17. www.reuters.com, 18. www.reuters.com, 19. www.reuters.com
