Chip giant Intel (INTC) is scheduled to announce its results for the first-quarter 2026 after the market closes on Thursday, April 23. The stock has surged about 80% year-to-date, driven by a wave of optimism over its turnaround strategy. Investors are closely watching Intel’s manufacturing push, particularly its progress on the advanced 18A process and its recent high-profile deal to join Elon Musk’s Terafab AI chip project. For Q1, analysts expect earnings of $0.02 per share, up about 90% from the same quarter a year ago.
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Meanwhile, revenue is projected at $12.42 billion, marking a slight 2.2% decline year-over-year.
Investors will look forward to management’s updates on the progress made on the cost reduction front and product roadmaps, especially for its latest AI chips and the high-volume production of its advanced 18A manufacturing process.
Analysts’ Views Ahead of INTC’s Q1 Earnings
Heading into the results, top RBC Capital analyst Srini Pajjuri maintained a Neutral rating on Intel with a $48 price target. He expects a modest beat and raise, driven by strong demand for server CPUs.
At the same time, he also pointed to some risks. Wafer supply constraints could limit near-term upside, and tighter memory supply may start to pressure the PC market. He added that the stock’s valuation already reflects strong optimism around Intel’s foundry business, including TeraFab, while progress in areas like the 14A process and advanced packaging may take time to translate into meaningful revenue.
Meanwhile, Simon Leopold from Raymond James reiterated a Market Perform rating on Intel after raising his estimates. The update reflects Intel’s move to buy back the remaining stake in Fab 34, along with changes in product mix based on recent checks in Asia.
Those checks suggest weaker PC demand, but this is being offset by stronger trends in data center and AI. Leopold also pointed to potential upside from projects tied to Elon Musk’s companies and TeraFab. He added that Intel stock, which is up nearly 80% this year, is being driven by both improving fundamentals and growing speculation around new opportunities.
Is INTC a Good Stock to Buy?
Turning to Wall Street, analysts have a Hold consensus rating on INTC stock based on six Buys, 24 Holds, and four Sells assigned in the past three months. The average INTC price target of $54.93 per share implies a downside of 16.39%.
