New York, Jan 18, 2026, 18:15 EST — The market has closed.
Intel (INTC.O) shares dropped 2.8% to close at $46.96 on Friday, fluctuating between $50.15 and $46.73 amid heavy trading. Roughly 127 million shares changed hands, nearly twice the three-month average volume.
The pullback is significant as the stock hovers near its recent highs, with the next major catalyst approaching. Investors are hungry for the numbers, but they’re also looking for a narrative — specifically, whether Intel’s manufacturing turnaround is gaining traction with customers willing to pay for it.
Traders remain unsettled as the broader tape shows little direction. U.S. stocks ended Friday nearly unchanged after a volatile session, with chip shares generally climbing. The market will be closed Monday for the Martin Luther King Jr. holiday, Reuters reported. “Historically the middle part of January tends to be pretty choppy,” noted Bruce Zaro of Granite Wealth Management, pointing to investors digesting early earnings. (Reuters)
Intel announced it will release its fourth-quarter and full-year 2025 earnings on Thursday, Jan. 22, after markets close, followed by a conference call at 2 p.m. PT. (Newsroom)
Street talk has turned somewhat more upbeat lately, though it’s far from unanimous. Citigroup analyst Atif Malik bumped Intel up to a “hold” rating with a $50 price target, as reported by Motley Fool on Nasdaq. He cited the possibility that Intel’s foundry division could land additional business if Taiwan Semiconductor’s capacity remains tight. (Nasdaq)
KeyBanc upgraded Intel earlier this week, noting its checks indicated the company is “largely sold out” of server CPUs for the year. Pricing remains on the table as demand holds strong, according to Investopedia. The same report also highlighted growing confidence in Intel’s foundry business — betting the chipmaker can succeed in producing chips for outside customers, not just itself. (Investopedia)
Not everyone’s convinced. Jefferies bumped its price target to $45 from $40 but stuck with a hold rating, flagging supply issues and a softer PC market as potential brakes on Intel’s demand growth. The firm described the full-year outlook as “relatively disappointing.” (Investing)
Intel is pushing hard to nail its next manufacturing breakthrough. At CES earlier this month, the company unveiled its Panther Lake laptop chip, built on the new “18A” process—technology Intel counts on to drive its comeback. CEO Lip-Bu Tan told Reuters the company had “made good” on its pledge to ship the first 18A products in 2025. (Reuters)
Friday’s reversal served as a stark reminder for traders: this stock can swing sharply on fragile conviction. Much of the bullishness hinges on future capacity, yields, and customers, which means crowded bets can quickly unwind.
There’s a straightforward risk here: if Intel reports a messy quarter, margins remain squeezed, or the outlook doesn’t signal clear growth in external foundry demand, the stock could lose more of its gains from earlier this year. That’s especially true with competitors like AMD continuing to challenge in PCs and servers, and TSMC maintaining its lead in cutting-edge manufacturing.
Intel’s earnings report and call on Jan. 22 will be the next big moment. Investors want updates on 18A progress, chatter with foundry customers, and any hints on demand for 2026. (Intc)
