TLDR
- INTC fell nearly 2.77% in the premarket on Friday, trading at around $109.42, as investors pulled back from big tech companies.
- This decline comes after a strong rally – INTC stock is still up 372% over the past 12 months
- Intel is trading below the 20-day and 50-day simple moving averages, with the RSI at a neutral level of 45.25.
- Q2 earnings are due July 23; Analysts expect EPS of $0.19 and revenue of $14.40 billion.
- Stifel raised its price target to $120 (from $75), while maintaining a hold; HSBC is targeting $200 with a buy rating
Intel stock fell in premarket trading on Friday, falling 2.77% to $109.42 as investors trimmed their exposure to big tech names.
The move is part of a broader sector decline, with Nasdaq futures down 0.36% and S&P 500 futures down 0.07% in that time.
Given that INTC is still up 372.46% over the past 12 months, Friday’s early decline looks more like profit taking than anything structural.
Thursday was a different story. Semiconductor stocks then got a bid Meta platforms It said it plans to double its internal computing capacity to 14 gigawatts next year.
Micron also announced plans to increase US investment to more than $250 billion through 2035, giving the sector a short-term boost ahead of Friday’s reversal.
Technical levels of viewing
At $110.58, Intel is 11.4% below its 20-day SMA of $124.44 and 5.4% below its 50-day SMA of $116.50.
The stock is still well above its long-term averages — 31% above the 100-day SMA and 77.6% above the 200-day SMA — so the long-term trend remains intact.
The RSI is at 45.25, which is a neutral level. Bulls want to see Intech Quickly retrace the 50-day simple moving average to confirm that the pullback is just a temporary pause.
The main resistance is located at $126.50. Key support is at $102.50 – a level that buyers are likely to defend if the selling continues.
A golden cross formed in August 2025, with the 50-day SMA remaining above the 200-day SMA, keeping the bigger picture constructive.
Earnings and analyst opinions
Intel reports second-quarter results on July 23. The Street is looking for EPS of $0.19 and revenue of $14.40 billion.
Stifel raised its price target to $120 from $75 on Friday but maintained its hold rating. The company cited risks related to long-term CPU and GPU feedback versus high market expectations.
Stifel noted that average server CPU selling prices and GPU throughput will be the main drivers of any foundry improvement.
HSBC took a more optimistic stance, raising its target to $200 from $100 and maintaining buy, citing Intel’s growing foundry capacity and increased participation from external clients.
Analysts widely expect Intel to be profitable in fiscal 2026, with earnings per share expected at $1.12 – a sharp swing from the $0.67 loss recorded over the past 12 months.
The Philadelphia Chip Index rose nearly 94% in the first half of 2026, driven by demand for data centers and increased capital spending from major technology players.
Intel Capital was among the investors in SambaNova’s recent $1 billion Series F funding round, which valued the AI chip company at $11 billion.
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