Intel stock was trading up more than 4% in Tuesday premarket at around $98.95, building on a 4% gain from the prior session. The stock has now climbed more than 10% over three sessions.
The move comes after Intel Foundry and ASML announced a milestone in High-NA Extreme Ultraviolet lithography. Intel said it has now processed more than one million wafers using the technology across testing, R&D, and volume production.
High-NA EUV is a next-generation chipmaking technique designed to handle more complex processors and AI chips. Intel is using it on select layers of its 18A process, which powers Panther Lake processors.
The company said overlay, throughput, and equipment availability are all meeting expectations. Products made on Intel 18A with High-NA EUV are also matching or outperforming similar layers made with ASML’s existing NXE EUV tools.
ASML CEO Christophe Fouquet called Intel “one of the key leaders” in High-NA EUV adoption. Intel installed the first commercial ASML EXE High-NA system back in 2024 and has since moved it into active production.
President Trump also drew attention to the stock on Monday. He posted an AI-generated image on Truth Social showing a fictional Intel buy at $20 and a current price of $95, and claimed his policies have generated “Hundreds of Billions of Dollars” for the U.S. through stocks and other holdings.
Intel and ASML are also working on keeping High-NA EUV compatible with the industry’s existing 6-inch masks. Customers can design within current mask areas or use Intel Foundry’s stitching technology.
Intel has also spent more than three years pushing toward larger 6×12-inch masks for future chip scaling. The company is coordinating with ASML, mask manufacturers, EDA partners, and materials providers to build the needed infrastructure.
Intel EVP and Foundry Co-General Manager Naga Chandrasekaran said future AI products need manufacturing technology that is production-ready and easy for customers to use.
Intel carries a consensus Hold rating based on five Buys, 24 Holds, and two Sells from the past three months. The average price target sits at $116.16, implying around 21% upside from current levels.
Mizuho maintained a Neutral rating on September 4 and cut its target to $92. Bank of America held a Buy rating on August 12 with a target of $145. UBS kept Neutral with a $112 target.
On the technical side, Intel trades 33% above its 200-day moving average of $74.15. It sits just below its 50-day SMA of $100.61 and its 100-day SMA of $103.86. The RSI stands at 50.33, signaling neutral momentum.
Key resistance is near $107.50. Support sits around $89.50.
Tech investor Dan Niles said Intel’s expanded $20 billion capital raise strengthens his view that the company could be approaching major foundry customer wins requiring additional capacity.
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