New York, February 27, 2026, 11:15 (EST) — Regular session
- Intel shares picked up a bit in late-morning trading, recovering some ground after slipping 3% on Thursday.
- Qualcomm has tapped Kevin O’Buckley, formerly leading Intel Foundry Services, to step into a supply-chain position.
- Nvidia’s post-earnings dip kept chip stocks jumpy, with new chatter about CPU competition adding to the swings.
Intel (INTC) ticked 0.3% higher to $45.59 as of 11 a.m. EST Friday, reclaiming a bit of ground after dropping 3.0% the previous session. Shares remain roughly 16% under their 52-week peak of $54.60 from Jan. 22.
Intel’s stock is now standing in for two tricky narratives: the company’s attempts to make a dent in contract chip manufacturing, and signs of waning enthusiasm for major AI hardware buys. So far, investors haven’t given much slack on either front.
Qualcomm has brought in Kevin O’Buckley—formerly the head of Intel Foundry Services—to oversee global operations and manage the supply chain, effective March 2. As for Intel, a spokesperson described its foundry business as “one of Intel’s highest strategic priorities,” crediting recent progress to Naga Chandrasekaran’s leadership, according to CRN. CRN
Leadership turnover hits Intel at a rough moment. The company’s foundry ambitions ride on trust: sticking to manufacturing rigor, hitting customer deadlines, and holding onto top talent, all while expenses remain elevated.
Chip stocks took a hit the day before, with Nvidia shedding 4% to $187.60. That move pulled other semiconductor names down too and brought fresh doubts about the payoff from AI investments. “Nvidia once again exceeded expectations but the competitive picture is also shifting,” said Jacob Bourne at eMarketer. Morgan Stanley’s Joseph Moore pointed out “generalist concerns that growth will slow.” Reuters
Competition isn’t letting up. Nvidia CEO Jensen Huang told analysts, “We love CPUs as well as GPUs,” adding that the company plans to share more on its data-center CPUs at the annual developer conference next month. That move takes the rivalry further onto ground where Intel and AMD have long held sway. Reuters
Intel faces a tight spot in the near term. Back in January, the chipmaker projected first-quarter revenue between $11.7 billion and $12.7 billion and flagged breakeven non-GAAP EPS. Gross margins are under pressure. Supply shifts and changes in product mix can move the needle on results, the company has said.
Plenty of macro static out there. January’s U.S. producer prices came in hotter than forecasts, stoking wholesale inflation and adding fresh fuel to the Fed’s go-to PCE gauges. That’s been enough to keep growth names sensitive to rates squarely on the radar.
Still, there’s a straightforward risk for Intel bulls: the foundry overhaul isn’t quick, and any misstep—be it execution or losing key talent—could sour sentiment quickly. If AI capex gets choppy, or rivals gain leverage on pricing, that risk only gets sharper.
March 4 is circled for traders as Intel CFO David Zinsner heads to the Morgan Stanley Technology, Media & Telecom Conference. Supply details, foundry momentum, capital discipline—those are the touchpoints investors expect Zinsner to hit.
