Intel Corporation (NASDAQ:INTC) shares attempted a rebound on Friday after sliding a day earlier.
Investors weighed regulatory headlines and fresh analyst coverage against a broader AI-driven volatility in chip stocks.
Analyst Calls Intel A “Show Me” Story
DA Davidson analyst Gil Luria began coverage of Intel with a Neutral rating and a $45 price forecast.
Luria noted meaningful progress across Intel’s operations, which has helped drive a sharp stock rally.
Still, he called Intel a “show me” story, signaling that investors still want more evident proof of sustainable execution and turnaround momentum.
AI Spending Lifts Broader Chip Sector
Intel also benefited from renewed optimism across semiconductor stocks after strong earnings and aggressive AI spending plans from Big Tech.
Alphabet Inc (NASDAQ:GOOGL), Google’s push to increase its capex forecast to $175 billion–$185 billion, and Amazon.com Inc’s (NASDAQ:AMZN) $200 billion capital expenditure outlay, have provided a significant tailwind for companies like Intel.
Wedbush analyst Dan Ives expects Big Tech’s capital spending to touch $550–$600 billion in 2026, up from about $380 billion in 2025.
The Semiconductor Industry Association said global chip sales hit $791.7 billion in 2025 and projected 26% growth in 2026, putting the industry on track to approach $1 trillion in annual revenue as AI and data center demand accelerate.
Technical Analysis
Intel Corp (INTC) is currently positioned in a strong technical setup, trading above its 50-day and 100-day SMAs, which suggests bullish momentum.
However, it’s worth noting that Intel Corp’s stock is trading 2.6% below its 20-day SMA, indicating a potential short-term pullback.
The RSI is currently at 50.20, which is neutral territory. This suggests that there isn’t strong momentum pushing the stock in either direction, and traders should watch for a breakout or breakdown from this level.
Currently, MACD is below its signal line, indicating bearish pressure. This could suggest that the recent upward momentum may be stalling, and traders should be cautious about potential downward movement.
Key support is at $42.50, while resistance is at $51.50.
In August, Intel Corp experienced a golden cross, where the 50-day SMA crossed above the 200-day SMA. This event typically signals a longer-term bullish trend, which traders should keep in mind as they assess the stock’s current position.
Looking at the 12-month performance, Intel Corp’s stock has surged 94.90%, reflecting strong demand and positive sentiment over the past year.
Intel Corp’s position within its 52-week range is notable, as it’s currently at 79.5% of that range. This positioning suggests that the stock is closer to its highs, which could indicate strength, but also raises the risk of a pullback if it encounters selling pressure near resistance.
Traders should remain vigilant, as the combination of mixed indicators and the proximity to key levels could lead to significant price action in the near term.
INTC Price Action: Intel shares were up 1.44% at $47.16 at the time of publication on Friday, according to Benzinga Pro data.
Photo: Kobby Dagan via Shutterstock
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