Intel Corp. shares jumped in early Wednesday trading as investors positioned ahead of the company’s quarterly results, capping a remarkable reversal in sentiment toward the once-struggling semiconductor giant.
The stock advanced 5.8% to $51.35, extending its year-to-date rally to 32% and approaching levels not seen since March 2022. The surge indicates increasing optimism on Wall Street that Chief Executive Officer Lip-Bu Tan’s strategy may be gaining traction.
The chipmaker will report fourth-quarter results after the market closes Thursday. Analysts surveyed by FactSet expect adjusted earnings of eight cents per share on revenue of $13.42 billion—modest declines from the year-earlier period when the company posted 13 cents per share on sales of $14.26 billion.
Yet the headline numbers may prove less consequential than management’s commentary on the early reception of its Panther Lake processors, which recently launched with much fanfare. Intel is banking on the chips to demonstrate the capabilities of its 18A manufacturing process, a vital milestone in attracting outside customers that could help stem billions in quarterly losses at its foundry operations.
The stock has drawn fresh support from multiple brokerages in recent sessions, with upgrades from HSBC, KeyBanc, and Seaport Research. President Donald Trump’s public praise of Tan has also strengthened investor confidence.
Susquehanna analyst Christopher Rolland raised his price target to $45 from $40 while maintaining a neutral stance, citing favorable conditions in the PC and server markets. He stayed reserved on the foundry business, noting that while customer interest appears to be building, formal announcements remain elusive.
“The company is more ‘confident’ on Intel 14A as customer engagements have increased,” Rolland wrote, referring to an even more advanced manufacturing node.
Speculation has mounted that Apple Inc. could become a major client for Intel’s cutting-edge manufacturing expertise. This development would mark a dramatic validation of the company’s multibillion-dollar manufacturing investments.
“I don’t expect Intel to blow away the numbers,” said Paul Meeks, head of technology research at Freedom Capital Markets. “The only thing I think could be a real fundamental surprise would be confirmation of Apple, or confirmation of other partners—not rumors, but actual partners—for their latest manufacturing technology.”
