What Happened?
Shares of computer processor maker Intel (NASDAQ: INTC) jumped 4.9% in the morning session after several analysts reacted positively to its recent first-quarter results, with one firm upgrading the stock and others raising their price targets.
The positive sentiment followed a strong quarterly report where Intel's data center and AI segment revenue grew 22% year-over-year, and its manufacturing (foundry) revenue increased by 16%. In light of these results, Freedom Broker upgraded its rating on the stock to Buy from Hold.
Additionally, Benchmark raised its price target for the shares to $105, citing strong server CPU demand and better factory output, while DA Davidson increased its target to $77. The renewed investor confidence reflects a belief in the company's turnaround strategy, particularly its push into artificial intelligence and advanced chip manufacturing.
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What Is The Market Telling Us
Intel’s shares are extremely volatile and have had 44 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 7 days ago when the stock gained 24.2% on the news that the company reported much stronger-than-expected first-quarter 2026 financial results, beating Wall Street's estimates for revenue, profit, and future guidance.
The company's revenue grew 7.2% year on year to $13.58 billion, surpassing expectations by nearly 10%. The outperformance was even more pronounced on the bottom line, where its adjusted earnings per share (EPS) of $0.29 dramatically beat the consensus estimate of just one cent.
Looking ahead, Intel provided an optimistic forecast for the second quarter, guiding for revenue of $14.3 billion and adjusted EPS of $0.20 at the midpoints, both well above what analysts had anticipated. This combination of a strong quarterly beat and a robust outlook signaled a positive inflection for the chipmaker, driving significant investor enthusiasm.
Intel is up 152% since the beginning of the year, and at $99.25 per share, has set a new 52-week high. Investors who bought $1,000 worth of Intel’s shares 5 years ago would now be looking at an investment worth $1,733.
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