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Intel
(NASDAQ:INTC)
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Rating:52Neutral
Price Target:
$103.00
▲(11.57% Upside)
Action:Reiterated
Date:07/24/26
INTC scores in the low-50s primarily due to weak underlying profitability (still loss-making with negative returns) despite improving margins and a return to positive free cash flow. The earnings call adds support through strong execution beats, improving node/yield progress, and solid liquidity, but near-term risk remains elevated from heavy CapEx requirements and ongoing foundry losses. Technicals are a headwind with bearish momentum and price below key short-term moving averages, while valuation is constrained by a negative P/E and no dividend yield data.
Positive Factors
AI-driven revenue mix and growth
Sustained >70% YoY AI business growth and a ~70% revenue share indicate structural demand for AI compute. That mix raises ASPs, supports higher gross margins, and creates a multi-year revenue runway tied to secular AI adoption across cloud, enterprise, and edge markets.
Negative Factors
Foundry segment losses and limited external scale
A multibillion-dollar foundry operating loss and tiny external revenue today imply the foundry business is still scaling. Persistent losses require cross-subsidization and prolong the path to positive returns, pressuring consolidated margins and delaying meaningful ROIC improvements from external customers.
Read all positive and negative factors
Positive Factors
Negative Factors
AI-driven revenue mix and growth
Sustained >70% YoY AI business growth and a ~70% revenue share indicate structural demand for AI compute. That mix raises ASPs, supports higher gross margins, and creates a multi-year revenue runway tied to secular AI adoption across cloud, enterprise, and edge markets.
Read all positive factors
Intel Key Performance Indicators (KPIs)
Any
Operating Income by Segment
Reveals profitability across different business units, indicating which segments are most lucrative and where the company might focus future efforts.
Reveals profitability across different business units, indicating which segments are most lucrative and where the company might focus future efforts.
Data provided by:
The Fly
The FlyIntel (INTC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$512.72B
Dividend YieldN/A
Average Volume (3M)115.11M
Price to Earnings (P/E)―
Beta (1Y)2.01
Revenue Growth7.47%
EPS Growth55.56%
CountryUS
Employees85,100
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-2.11
Shares Outstanding5,044,000,000
10 Day Avg. Volume114,132,552
30 Day Avg. Volume115,109,164
Financial Highlights & Ratios
PEG Ratio6.23
Price to Book (P/B)1.54
Price to Sales (P/S)3.33
P/FCF Ratio-35.52
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$119.11Price Target Upside29.02% Upside
Rating ConsensusHold
Number of Analyst Covering33
EPS Forecast (FY)1.49
Revenue Forecast (FY)$62.56B
Intel Business Overview & Revenue Model
Company Description
Intel Corporation designs, develops, manufactures, markets, sells, and services computing and related end products and services in the United States, Ireland, Israel, and internationally. It operates through three segments: CCG, DCAI, and Intel Fo...
How the Company Makes Money
Intel makes money primarily by selling semiconductor products and related platform components, and by providing manufacturing and foundry-related services. A major revenue stream comes from its Client Computing business, where it sells PC-focused ...
Intel Earnings Call Summary
Earnings Call Date:Jul 23, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call presented a strong performance quarter with clear operational improvements: revenue and EPS materially beat guidance, AI-driven businesses delivered robust growth ( >70% YoY), data center demand and product ramps (18A, Xeon 6+) showed momentum, and foundry execution (18A output, yields, 14A PDK progress) improved meaningfully. However, notable challenges remain: persistent industry supply constraints across wafers, memory and substrates; back-end bottlenecks causing lumpy capacity expansion; a sizable foundry operating loss with limited external revenue today; client inventory write-downs; and a sizable planned CapEx increase that raises near-term funding needs. On balance, the positives — strong financial beats, high growth in AI and data center, improving manufacturing yields and clear execution milestones — outweigh the negatives, though execution risk and supply-chain constraints are important caveats.Positive Updates
Quarterly Revenue Beat
Q2 revenue of $16.1 billion, $1.8 billion above the midpoint of guidance, marking the seventh consecutive quarter of exceeding financial expectations.
Negative Updates
Persistent Industry Supply Constraints
Industry-wide supply shortages across leading-edge wafers, memory and substrates remain severe and are expected to persist, constraining the company's ability to fully satisfy demand.
Read all updates
Q2-2026 Updates
Positive
Negative
Quarterly Revenue Beat
Q2 revenue of $16.1 billion, $1.8 billion above the midpoint of guidance, marking the seventh consecutive quarter of exceeding financial expectations.
Read all positive updates
Company Guidance
Intel guided Q3 revenue of $15.8–$16.8 billion (midpoint $16.3B) with non‑GAAP gross margin of ~42% at the midpoint, a non‑GAAP tax rate of ~11% and non‑GAAP EPS of $0.38; it reiterated full‑year non‑GAAP operating expenses of roughly $16.5B and expects noncontrolling interest of about $250M in each of Q3 and Q4 (and ~$1.1B on a GAAP basis for 2027–28). Management said wafer output across major nodes has already exceeded expectations from 90 days ago, Q3 quarter‑to‑date 18A yields are trending ahead of March targets, supply growth is skewed to the back half of Q3 into Q4, PC consumption is expected to be subseasonal in H2 and down low‑double‑digits for 2026, and server CPU unit growth is forecast to be strong double‑digits this year and next with momentum into 2028. CapEx was raised to more than $20B for 2026 (tooling spend up ~40% vs. 2025) with 2027 CapEx expected to be significantly higher (majority U.S. spend), and management noted gross‑to‑net AMIC/ITC benefits in the low single‑digit billions (roughly $0.35 on the dollar).Intel Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
62
Positive
Cash Flow
48
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 57.03B | 52.85B | 53.10B | 54.23B | 63.05B | 79.02B |
| Gross Profit | 22.20B | 18.38B | 17.34B | 21.71B | 26.87B | 43.81B |
| EBITDA | 3.67B | 14.35B | 1.20B | 11.24B | 21.30B | 33.87B |
| Net Income | -11.29B | -267.00M | -18.76B | 1.69B | 8.01B | 19.87B |
Balance Sheet | ||||||
| Total Assets | 202.44B | 211.43B | 196.49B | 191.57B | 182.10B | 168.41B |
| Cash, Cash Equivalents and Short-Term Investments | 29.73B | 37.42B | 22.06B | 25.03B | 28.34B | 29.25B |
| Total Debt | 50.54B | 46.59B | 50.01B | 49.28B | 42.05B | 38.10B |
| Total Liabilities | 99.30B | 85.07B | 91.45B | 81.61B | 78.82B | 73.02B |
| Stockholders Equity | 87.54B | 114.28B | 99.27B | 105.59B | 101.42B | 95.39B |
Cash Flow | ||||||
| Free Cash Flow | 2.83B | -4.95B | -15.66B | -14.28B | -9.62B | 9.13B |
| Operating Cash Flow | 14.94B | 9.70B | 8.29B | 11.47B | 15.43B | 29.46B |
| Investing Cash Flow | -13.48B | -14.82B | -18.26B | -24.04B | -10.23B | -24.28B |
| Financing Cash Flow | 2.45B | 11.59B | 11.14B | 8.51B | 1.11B | -6.21B |
Intel Risk Analysis
Intel disclosed 7 risk factors in its most recent earnings report. Intel reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Intel Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $5.42T | 34.14 | 111.66% | 0.14% | 70.68% | 109.57% | |
77 Outperform | $661.61B | 54.39 | 52.37% | 0.50% | 17.87% | 23.14% | |
77 Outperform | $1.91T | 27.47 | 39.35% | 0.87% | 34.60% | ― | |
76 Outperform | $2.04T | 69.11 | 36.40% | 0.67% | 32.29% | 125.17% | |
74 Outperform | $789.07B | 122.68 | 8.08% | ― | 39.54% | 125.82% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
52 Neutral | $512.72B | -48.18 | -10.76% | ― | 7.47% | 55.56% |
* Technology Sector Average
INTC
Intel
97.52
76.87
372.25%
AMD
Advanced Micro Devices
469.56
297.28
172.56%
ASML
ASML Holding
1,733.48
1,016.19
141.67%
AVGO
Broadcom
422.40
120.71
40.01%
NVDA
Nvidia
217.55
35.73
19.65%
TSM
TSMC
418.47
178.44
74.34%
Intel Corporate Events
Executive/Board ChangesShareholder Meetings
Intel Shareholders Back Board, Pay and Governance Plans
Positive
May 15, 2026
Intel’s May 13, 2026 annual meeting of stockholders recorded 79.11% participation and resulted in the election of all 11 director nominees and the ratification of the independent auditor, signaling broad investor support for current governan...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.