New York, Jan 16, 2026, 10:38 EST — Regular session
- Intel shares slip early, hitting $50.15, even as chip stocks rally broadly
- This week saw Citi, Barclays, and RBC all raise their targets as Wall Street adjusts ahead of earnings.
- The near-term test for Intel’s foundry efforts and margins comes next week’s earnings.
Intel (INTC.O) shares slipped roughly 0.6% to $48.05 on Friday morning, pulling back from an earlier high of $50.15.
The stock has jumped roughly 31% so far in 2026, with a slew of new analyst upgrades arriving just before Intel’s quarterly results. On Thursday, Citi raised Intel from sell to neutral and boosted its price target from $29 to $50, citing potential gains from a shortage of “advanced packaging” at Taiwan Semiconductor and a “unique window of opportunity” for Intel to attract foundry clients, according to Citi analyst Atif Malik. Kim Forrest, CIO at Bokeh Capital Partners, described the rally as a “back from the dead” recovery. (The Business Times)
The current scene: investors are bracing for earnings, weighing if Intel’s turnaround can deliver lasting results. Simply put, a foundry means making chips on contract for other firms. “Advanced packaging” involves merging and connecting several chips into one product — a process that can slow shipments, even when wafers are ready.
Barclays analyst Tom O’Malley bumped his price target on Intel to $45 from $35, maintaining an Equal Weight rating. The update comes as the bank revises its 2026 outlook for semiconductor and chipmaking equipment firms. O’Malley highlighted that closeness to the AI theme will continue to dominate, favoring companies “centric to the pillars of the AI ramp.” (TipRanks)
RBC Capital Markets analyst Srini Pajjuri kicked off coverage of Intel with a Sector Perform rating and a $50 price target, noting management’s “commendable job” in right-sizing the business and shoring up the balance sheet. He highlighted risks tied to rising memory prices and supply bottlenecks, adding that the foundry’s progress hinges on manufacturing yields, “where visibility is limited.” (TipRanks)
Loop Capital bumped up its price target on Intel to $50 from $40 but maintained a hold rating, according to MarketBeat. (MarketBeat)
Intel slipped even as chip stocks rallied on Friday. The iShares Semiconductor ETF jumped roughly 2.1%. U.S. markets will be closed Monday for Martin Luther King Jr. Day, handing traders an extended break ahead of a busy earnings week that features Intel. (Reuters)
The competitive landscape is changing. The United States and Taiwan sealed a trade agreement, featuring a $250 billion investment commitment from Taiwanese firms. Meanwhile, TSMC is boosting its U.S. presence, expanding capacity in Arizona — putting pressure on competitors aiming to promote “made in America” production and packaging. (Reuters)
But the run-up works both ways. If Intel’s results or outlook disappoint — whether on margins, manufacturing execution, or the speed of landing external customers — the stock could slide fast, especially as sentiment grows crowded.
Intel’s earnings report on Jan. 22 will be the next major event for investors, who are focused on updates about next-gen process ramps, packaging capacity, and if the foundry business is attracting significant customers.
