New York, Jan 15, 2026, 16:30 ET — Trading after hours.
- Intel shares dropped 0.8% during regular trading, erasing gains from a two-day rally fueled by positive analyst notes.
- RBC kicked off coverage with a “Sector Perform” rating, pointing to supply challenges and margin pressures as Intel’s turnaround story picks up steam.
- Intel’s upcoming January 22 earnings will shed light on its server chip performance and ambitions in contract chip manufacturing.
Intel (INTC.O) shares closed down 0.8% at $48.31 on Thursday, dipping after earlier hitting around $50. The stock was mostly flat in after-hours trading but still sits about 10% higher over the past two sessions. 1
Timing is key as Intel approaches its quarterly earnings next week, with expectations climbing swiftly. Investors want confirmation that demand strength isn’t just speculation. Intel’s update comes Jan. 22 after the market closes. 2
The question is straightforward: can Intel leverage tighter supply of data-center processors to boost prices, and can it prove progress in its “foundry” business—making chips for outside clients—without any execution missteps?
RBC Capital’s Srini Pajjuri kicked off coverage on Intel with a Sector Perform rating and a $50 price target. He praised management for a “commendable job” in reshaping the company, yet flagged risks from rising memory prices and supply bottlenecks that might squeeze near-term revenue and margins. He also noted that clarity on manufacturing yields is still lacking. 3
KeyBanc took a different stance earlier this week. Analyst John Vinh upgraded Intel to Overweight, assigning a $60 price target. He highlighted “outsized hyperscaler demand” — big cloud players snapping up server CPUs — and noted Intel is “largely sold out in server CPU in 2026.” The company is also eyeing a “10–15%” bump in average selling prices (ASP). Vinh added that Intel’s “18A” manufacturing process output is “over 60%,” which he deemed “good enough to ramp Panther Lake.” 4
Intel slipped on Thursday, bucking the broader chip sector rally sparked by Taiwan Semiconductor Manufacturing Co’s earnings and expansion plans, which boosted sentiment across semiconductors. 5
Risks remain firmly on the table. Trade policy jumped back into focus when President Donald Trump slapped a 25% tariff on imports of select advanced AI chips Wednesday. This move threatens to disrupt supply chains and throws a wrench into demand projections for the sector. 6
Traders are closely watching Intel as it tries to protect its margins while scaling up new manufacturing and fulfilling server chip demand. Signs that supply, not demand, is the bottleneck could shake the stock in either direction.
Intel’s earnings report and conference call on Jan. 22 at 2 p.m. PT is the next major event. Investors will focus on any updates regarding pricing, capacity, and how the company is faring in contract manufacturing. 7
