New York, Jan 17, 2026, 15:34 EST — Market closed.
- Intel closed down 2.8% on Friday at $46.96
- Citi upgraded Intel to Neutral and raised its price target to $50
- Intel is due to report results on Jan. 22 after the U.S. market close
Intel Corp (INTC.O) shares fell 2.8% on Friday to close at $46.96, down $1.36 from the prior session’s $48.32. About 127.3 million shares changed hands. (Nasdaq)
The dip comes after a fast start to the year. Intel is up 31% so far in 2026, a run driven by bets that the chipmaker can win new customers for its foundry business — its effort to make chips for outside designers — Bloomberg reported. (Bloomberg)
Citigroup leaned into that view on Thursday, upgrading Intel to Neutral from Sell and lifting its price target to $50 from $29. Analyst Atif Malik pointed to “tightness” in advanced packaging supply at Taiwan Semiconductor Manufacturing Co, and flagged a “unique window of opportunity” for Intel to win foundry wafer customers with U.S. government support. Advanced packaging is the tech used to link multiple chips together in a single package. (TipRanks)
Intel’s slide came against a steadier tape for chips. The Philadelphia SE Semiconductor index gained 1.2% on Friday as U.S. stocks ended nearly flat ahead of the long weekend, with markets closed on Monday for the Martin Luther King Jr. Day holiday. “One of the other reasons markets have been flat-lining is we’re at the start of the earnings season,” said Anthony Saglimbene, chief market strategist at Ameriprise Financial. (Reuters)
Intel is set to report fourth-quarter and full-year 2025 financial results on Thursday, Jan. 22, after the market close, and plans to hold a conference call at 2 p.m. PT. (Intel)
For traders, the timing is awkward: a holiday-shorted week, then a results print that will be read as a referendum on the rally. Investors will be looking for guidance, and any update on outside foundry demand and the pace of spending tied to new manufacturing capacity.
Citi’s call also puts the spotlight on packaging — a crowded chokepoint in the AI supply chain. If that constraint at TSMC persists, customers may at least take a harder look at alternatives.
But the setup cuts both ways. Any cautious outlook, or signs that Intel is still losing ground in its core processor franchises, could hit a stock that has already moved hard.
With U.S. markets reopening on Tuesday, the first question is whether Intel can steady after Friday’s drop and track the broader chip group again.
The next hard catalyst is Jan. 22: Intel’s results and call, where the market will press for numbers — and proof — behind the foundry pitch.
