Intel (INTC) stock surged 12% following a strong earnings report that showed 25% year-over-year revenue growth and a 59% increase in Data Center/AI revenue. Despite the rally, shares remain down over 34% in the past month. Chip stocks broadly gained, with the iShares Semiconductor ETF (SOXX) rising 8%. TSMC and Intel are competing in advanced semiconductor manufacturing as AI demand outstrips supply. Intel landed deals with Apple and Tesla. The company’s Q2 2026 earnings beat consensus estimates, with Q3 guidance above analyst expectations. Analysts’ average 12-month price target is $119.11.
Intel (INTC) stock climbed 12% higher on Thursday after a strong earnings report that saw its data center and AI revenue surge. The company reported 25% year-over-year revenue growth and a 59% increase in Data Center/AI revenue.
Despite Thursday’s gains, the stock remains down over 34% in the last month. Chip stocks broadly gained this week as the iShares Semiconductor ETF (SOXX) jumped 8%, offering broad AI-chip exposure without single-stock risk.
Advanced Micro Devices (AMD) rose 13% on Thursday, while Taiwan Semiconductor Manufacturing (TSM) gained 7%. TSMC and Intel are locked in a race over advanced semiconductor manufacturing, especially as AI spending has ballooned with demand outstripping supply.
TSMC remains the dominant player in advanced chip manufacturing, but Intel has begun to close the gap under new CEO Lip-Bu Tan. Intel is rebuilding its foundry business after manufacturing setbacks, with its 18A technology expected to reach high-volume production in 2026.
Intel has landed several deals with major tech companies, including Apple and Tesla. INTC stock has delivered more than 350% return over the past 12 months, with a 52-week range of $18.97 to $142.35.
Shares have climbed 151% year-to-date but slipped over 7% in the past five days and 33% over the past month. Intel’s Q2 2026 earnings marked the strongest quarterly revenue growth in more than 15 years, beating the analyst consensus estimate of $14.4 billion.
For Q3 2026, Intel guided revenue of $15.8 billion to $16.8 billion with adjusted EPS of $0.38 and gross margin of approximately 42%, well above the analyst consensus of $15.1 billion and $0.28 EPS. Several firms, including Bank of America, Truist Financial, and Mizuho, reiterated buy-and-hold ratings on INTC stock this week.
Based on 33 Wall Street analysts’ 12-month price targets, the average target is $119.11 with a high of $200.00 and a low of $80.00. The average price target represents a 29.02% change from the last price of $92.32.
