New York, Jan 23, 2026, 16:12 EST — After-hours
Intel shares tumbled roughly 17% on Friday, finishing at $45.11. Investors dumped the stock following a gloomy quarterly forecast and new indications that supply bottlenecks remain a problem.
The decline ended a strong January run that had lifted Intel about 47% this month, following an 84% jump in 2025. If the losses persist, the chipmaker would see more than $35 billion erased from its market value. TD Cowen analysts said the rally was fueled more by “the dream” than by near-term fundamentals. Bernstein also pointed to a server upcycle Intel “woefully misjudged” in terms of capacity. (Reuters)
This matters because the trade had counted on a straightforward premise: AI data-center expansions would drive demand for Intel’s traditional server CPUs, the central processors that often run alongside Nvidia’s dominant GPUs. “In the short term, I’m disappointed that we are not able to fully meet the demand in our markets,” CEO Lip-Bu Tan told analysts. CFO David Zinsner added that cloud customers “were all a little bit caught off guard” by how quickly demand shifted. (Reuters)
Intel reported fourth-quarter revenue of $13.7 billion and projected first-quarter revenue between $11.7 billion and $12.7 billion. The company expects first-quarter EPS attributable to Intel to be $(0.21), with a non-GAAP EPS of $0.00 — a figure that excludes certain items Intel believes obscure the core trend. “We expect our available supply to be at its lowest level in Q1 before improving in Q2 and beyond,” said Zinsner. Meanwhile, Tan noted Intel is focused on ramping up supply to meet customer demand. (Intel Corporation)
On Thursday, Intel filed a Form 8-K that included its fourth-quarter results and a first-quarter outlook, with the earnings release attached as an exhibit. (SEC)
Intel released its annual report on Form 10-K Friday, handing investors a bulkier file to review following the steep stock swing. (Intel Corporation)
The selloff puts Intel once again in a familiar position: needing to show it can convert demand into actual shipments and profits, not just tell a compelling story. That challenge grows tougher as competitors close in on PCs and servers, while Intel continues to navigate major manufacturing shifts.
The risk is clear. Should the supply crunch persist beyond what management and analysts anticipate, Intel risks missing out on lucrative data-center sales. At the same time, ongoing challenges with new product rollouts and manufacturing “yields”—the percentage of usable chips per silicon wafer—could continue to pressure margins.
Traders will be watching closely to see if supply eases as we head into the second quarter, and if Intel’s capex and capacity moves align with the demand it claims. The search for a definitive indication of outside foundry customers remains ongoing as well.
Intel is set to release its first-quarter earnings on April 23, per Yahoo Finance’s earnings calendar. Investors will be watching closely for fresh data on supply and margins. (Yahoo Finance)
