New York, Jan 18, 2026, 18:15 EST — The market closed.
Intel (INTC.O) shares slipped 2.8% to $46.96 on Friday, swinging between $50.15 and $46.73 during heavy activity. About 127 million shares traded, almost double the typical three-month daily volume.
The pullback stands out since the stock remains close to its recent peaks, and a key catalyst looms ahead. Investors want the numbers, sure, but more than that, they’re searching for a story—whether Intel’s manufacturing revival is actually catching on with clients ready to invest.
Traders are still searching for direction as the broader market shows little movement. U.S. stocks finished Friday almost flat after a volatile day, with chip stocks generally moving higher. The market will shut Monday for the Martin Luther King Jr. holiday, Reuters reported. “Historically the middle part of January tends to be pretty choppy,” said Bruce Zaro of Granite Wealth Management, citing investors processing early earnings results. 1
Intel said it will report its fourth-quarter and full-year 2025 earnings Thursday, Jan. 22, after the market closes. A conference call is set for 2 p.m. PT that day. 2
Street chatter has picked up a bit, though consensus remains mixed. Citigroup’s Atif Malik upgraded Intel to a “hold” with a $50 price target, according to Motley Fool on Nasdaq. He pointed to Intel’s foundry arm possibly gaining more contracts if Taiwan Semiconductor can’t expand capacity. 3
Earlier this week, KeyBanc upgraded Intel, pointing out that its checks show the company is “largely sold out” of server CPUs for the year. Pricing remains firm as demand stays strong, Investopedia reports. The same article also notes rising confidence in Intel’s foundry business—investors are starting to believe the chipmaker can successfully produce chips for external clients, not just itself. 4
Not everyone is sold. Jefferies raised its price target to $45 from $40 but kept a hold rating, citing supply challenges and a weaker PC market that could slow Intel’s demand growth. The firm called the full-year forecast “relatively disappointing.” 5
Intel is racing to deliver its next manufacturing leap. At CES earlier this month, it revealed the Panther Lake laptop chip, crafted on its new “18A” process—a key piece in its comeback strategy. CEO Lip-Bu Tan told Reuters the company had “made good” on its promise to launch the first 18A products in 2025. 6
Friday’s sharp turnaround highlighted just how quickly this stock can shift when conviction wavers. The bullish case depends heavily on future capacity, yields, and customer growth—making crowded trades vulnerable to sudden selloffs.
The risk is simple: a disappointing quarter from Intel, continued margin pressure, or a weak outlook for external foundry demand could send the stock sliding again after its earlier gains. This is especially pressing given AMD’s ongoing push in PCs and servers, along with TSMC holding firm at the forefront of advanced manufacturing.
Intel’s earnings report and call on Jan. 22 mark the next key event. Investors are keen for updates on 18A progress, any talks with foundry clients, and clues about demand heading into 2026. 7
