TLDR
- Intel stock jumped 5.8% to $51.35 in early trading Wednesday, extending year-to-date gains to 32% through Tuesday’s close
- The company reports Q4 2025 earnings Thursday after market close, with analysts expecting eight cents per share on $13.42 billion revenue
- Investors are watching for guidance on new Panther Lake processors and their 18A manufacturing process validation
- Several analysts upgraded Intel recently, including HSBC, KeyBanc, and Seaport Research, with price targets rising
- RBC Capital predicts a slight earnings beat with solid server CPU demand but notes headwinds from higher memory prices
Intel stock climbed 5.8% to $51.35 in early Wednesday trading. The move puts shares on track for their highest close since March 2022.
The chip maker has already gained 32% year-to-date through Tuesday. Investors are positioning ahead of Thursday’s earnings report.
Wall Street expects Intel to post adjusted earnings of eight cents per share for Q4 2025. Revenue estimates sit at $13.42 billion, according to FactSet polling.
Those numbers represent a decline from the year-earlier period. Intel reported 13 cents per share on $14.26 billion revenue in Q4 2024.
The actual figures matter less than what comes next. Investors want details on the Panther Lake processor launch and early customer response.
New Chip Process Could Change the Game
Intel’s 18A manufacturing process needs validation. Strong Panther Lake performance could attract external foundry clients.
The foundry unit currently books billions in quarterly losses. Outside customers would help stem that bleeding.
Apple remains the white whale everyone’s watching. Analysts speculate the iPhone maker could tap Intel’s 18A and 14A processes.
“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,” said Paul Meeks, head of technology research at Freedom Capital Markets.
Analyst Upgrades Keep Coming
HSBC, KeyBanc, and Seaport Research all upgraded Intel recently. The wave of positivity follows the Panther Lake unveiling and President Trump’s praise of CEO Lip-Bu Tan.
Susquehanna analyst Christopher Rolland raised his price target to $45 from $40 Tuesday. He kept his Neutral rating but cited strong PC and server markets.
Rolland expressed caution about foundry operations. “Recent reports have suggested increased interest from potential customers, though we are still awaiting a formal customer announcement,” he wrote.
RBC Capital maintained its Sector Perform rating with a $50 price target. The firm expects a slight earnings beat and in-line guidance.
PC demand looks stable for now. Server CPU demand appears solid, though wafer supply constraints peak in Q1.
Higher memory prices could limit 2026 volume growth. Gross margins should benefit from better pricing but face pressure from Lunar Lake and Panther Lake entering the mix.
The stock has more than doubled over the past 12 months. Shares traded as low as the low $20s before the current rally began.
Intel reports fourth quarter 2025 results Thursday after the closing bell. The company will hold its earnings call to discuss results and provide forward guidance.
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