Intel Corporation (INTC) has become one of the most closely watched turnaround stories of 2026, with the stock up 144% year to date and trading near $95.80 after a 32% pullback from its June 22 peak of $140.94. CEO Lip-Bu Tan put nearly $10 million of his own money into the stock on August 11, purchasing 105,263 shares at $95 per share and raising his total holding to 1,314,669 shares.
Intel’s second-quarter results underpinned the rally: revenue rose 25.2% year over year to $16.13 billion, beating the $14.43 billion estimate, while EPS of $0.42 doubled the $0.21 consensus. Data center and AI revenue jumped 59% to $6.3 billion, and foundry revenue increased 31% to $5.8 billion. The company guided Q3 2026 EPS to $0.38, and analysts have raised full-year 2026 EPS estimates 32 times in 30 days with zero cuts.
Wall Street remains cautious, however. The consensus rating is Hold with an average price target of $107.01. Mizuho analyst Vijay Rakesh lowered his target from $109 to $92, Stifel trimmed to $110, while Citigroup upgraded Intel to buy and Global Equities Research set a $200 target. Bullish arguments cite Intel’s 18A manufacturing yields running 25% above internal targets, the rapid Xeon 6 ramp, and a $100 billion-plus ASIC opportunity.
Bearish concerns center on Intel Foundry’s $2.1 billion Q2 operating loss, only $293 million in external foundry revenue, a $12.53 billion non-cash charge tied to CHIPS Act escrow, and expected low-double-digit PC demand declines for 2026. A $15 billion equity raise in August also diluted shareholders. The company has a $483.22 billion market cap, with a 50-day moving average of $100.45 and a 200-day moving average of $88.20.
