NEW YORK, January 10, 2026, 13:26 EST — Market closed
- Intel jumped 10.8% on Friday following praise for CEO Lip-Bu Tan from Trump
- Chipmakers spearheaded a wider rally that drove U.S. indexes to all-time highs
- Upcoming key data includes Tuesday’s U.S. CPI report, followed by Intel’s earnings on Jan. 22
Intel shares surged 10.8% on Friday, closing at $45.55, following U.S. President Donald Trump’s comment about having a “great meeting” with CEO Lip-Bu Tan. The rise coincided with Wall Street hitting new record highs, while investors also watched the U.S. Supreme Court’s schedule for decisions related to Trump’s tariffs. StockAnalysis
The shift is significant since Intel has gone beyond being just another chipmaker struggling to turn things around. Washington has turned it into a direct political and market play by agreeing to convert federal grants into a 9.9% equity stake in Intel, in a push to jumpstart its U.S. factory expansion.
Markets are closed for the weekend, but looming events could trip up tech stocks in the coming sessions. Tuesday’s Consumer Price Index (CPI) report, a key measure of inflation, and the kickoff of earnings season stand to shake up expectations around how aggressively the Federal Reserve might cut rates this year. “As we’re starting January, the market may be underappreciating some of the events on the horizon,” Michael Arone at State Street Investment Management noted. Reuters
Trump’s praise came after a meeting with Tan and a social-media post pointing out the U.S. government’s roughly 10% stake in Intel, Investopedia reported. This positive shift was notable since Trump had criticized Tan openly just months before.
In August, Trump called for Tan’s immediate resignation, labeling him “highly conflicted” due to his connections with Chinese companies. At that time, Intel said it was in talks with the administration and that its board supported the strategy to revamp the company and boost advanced manufacturing. Reuters
Friday’s surge sparked a broader rally in semiconductor stocks, pushing the PHLX semiconductor index—a key gauge for chip makers—up 2.7%, hitting a new record. Lam Research jumped 8.7% after Mizuho raised its price target, while Broadcom climbed 3.8%. “Investors are getting granular and picking the winners and losers,” said Zachary Hill, head of portfolio management at Horizon Investments. Reuters
Intel’s shares fluctuated from $41.57 up to $45.73 on Friday, testing the upper limit of its 52-week range. Trading volume surged to around 186.7 million shares, nearly twice the recent average, driven by short-term traders reacting to the news.
Intel’s next big event is just around the corner. The chipmaker will release its fourth-quarter and full-year 2025 results on Thursday, Jan. 22, after the market closes, followed by an earnings call at 2 p.m. PT.
The report is expected to refocus attention on fundamentals like PC demand, margins, and cash flow. Traders will also be watching closely for updates on Intel Foundry, the company’s contract chipmaking division, as well as any hints about capital expenditure on new factories.
But the rally carries risks. Mizuho analyst Jordan Klein noted institutional interest remains sparse, while Deutsche Bank’s Ross Seymore cautioned that broad customer adoption of Intel’s “14A” manufacturing process—a next-generation node—might still be years off, according to MarketWatch.
When trading picks back up, the key question is if Intel can maintain support around $45 while markets absorb Tuesday’s CPI data. But the more significant date remains Jan. 22, when Intel delivers its report and updates guidance, resetting investor expectations.
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