Intel’s stock surged 13% on Tuesday, closing at $108.19 after trading as high as $110.48. Volume hit 191 million — 65% above the daily average.
The move pushed Intel’s market cap to $544 billion, a company record. That puts it ahead of Oracle and Johnson & Johnson, and makes it the 17th largest US company by market cap, up from 56th at the end of 2025.
The stock has now tripled since the start of 2026, with the 2026 gain running at roughly eight times that of the best Magnificent Seven performer this year — Alphabet, which is up 24% year-to-date.
The biggest catalyst was a report that Apple held exploratory talks with Intel — and Samsung — about using them to build its main device chips in the US. That would be a major win for Intel’s foundry business, which has been the core of CEO Lip-Bu Tan’s turnaround strategy.
Intel also cleared an antitrust hurdle tied to its SambaNova deal. That removes a key overhang and supports Intel’s push into enterprise AI acceleration.
On the hiring front, Intel brought in Qualcomm veteran Alex Katouzian to lead its PC and “physical AI” business. That’s a direct bet on AI at the edge and in consumer devices — a market that could matter a lot over the next few years.
The broader market helped too. The S&P 500 and Nasdaq both hit records on Tuesday, driven by an AI chip rally and easing geopolitical concerns. A rising tide lifted Intel along with the rest of the sector.
Intel’s Q1 earnings, reported April 23rd, gave the rally a foundation. The company posted EPS of $0.29, blowing past the $0.01 consensus. Revenue came in at $13.58 billion, above the $12.32 billion estimate — a 7.4% increase year-over-year.
Foundry gross margins are also improving, which is critical. That segment has been the drag on Intel’s financials, and any progress there matters to investors building a bull case.
For Q2, Intel guided for EPS of $0.20. Analysts expect full-year EPS of $0.63.
Not everyone is convinced. An Intel EVP sold 40,256 shares on May 1st at an average price of $99.53 — a total of just over $4 million and a 27.7% reduction in her position.
Analyst reaction has been measured. RBC kept a neutral rating with an $80 price target. New Street Research lifted its target from $50 to $80 but stayed neutral. Truist went from $49 to $81, also with a hold.
Of the 41 analysts tracked by MarketBeat, 25 have a Hold rating, 11 have a Buy, one has a Strong Buy, and four have a Sell. The average target is $74.47 — nearly $34 below where the stock closed Tuesday.
Intel’s 50-day moving average sits at $54.62. Its 200-day moving average is $45.91. The stock is running hot.
Intel carries a beta of 2.18 and a price-to-earnings ratio of -174.51. Institutional investors own 64.53% of the stock.
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