On Thursday, Intel Corporation (NASDAQ:INTC) climbed nearly 19.95% in after-hours trading to $80.10 after closing at $66.78, up 2.31% in the regular session, following stronger-than-expected first-quarter results.
Intel Earnings Crush Estimates, Stock Jumps
The chipmaker reported earnings of 29 cents per share, far exceeding the consensus estimate of 1 cent.
Revenue came in at $13.58 billion, topping expectations of $12.42 billion and rising from $12.67 billion a year earlier.
Jim Cramer: ‘Paranoid Intel Is Back’
Market commentator Jim Cramer struck a bullish tone. “The paranoid Intel is back!! … Really terrific conference call.”
In a separate post, Cramer added, “Intel can still be bought, but so can AMD and ARM — the latter being the horse to be on now,” he said, referencing Advanced Micro Devices, Inc. (NASDAQ:AMD) and Arm Holdings (NASDAQ:ARM).
Futurum Group CEO Daniel Newman took to social media and said that Intel shares are reaching record levels even before its foundry business begins to make a meaningful contribution.
“Intel has a bright future and it’s still very early,” Newman stated.
Gene Munster: AI Boom Still In Early Stages
Deepwater Asset Management’s managing partner took to X and said that Intel’s results reflect a broader industry trend tied to artificial intelligence.
“Results go beyond Intel and remind us how early we are in the AI buildout,” Munster said.
He also shared a video from his appearance on CNBC, in which he noted that his firm had exited its position in Intel.
He described Intel as a company that had been “on the ropes,” with declining revenue and talent departures, but is now showing signs of a sharp turnaround.
Munster framed the shift as part of a broader industry dynamic, saying the surge reflects a “rising tide” driven by accelerating demand for AI infrastructure
Elon Musk Deal Signals Strategic Momentum
On Wednesday, Elon Musk said Tesla Inc. (NASDAQ:TSLA) plans to use Intel’s next-generation 14A manufacturing process for chips at its proposed Terafab facility in Austin.
The move could mark Intel’s first major external customer for its advanced foundry technology, a key step in competing with TSMC.
Analyst Ming-Chi Kuo noted that limited alternatives likely played a role, as Taiwan Semiconductor Manufacturing Company’s (NYSE:TSM) capacity remains heavily booked while rivals focus on other high-margin opportunities.
Intel ranks in the 96th percentile for Momentum on Benzinga Edge, highlighting its robust performance across short, medium and long-term trends.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Tupungato / Shutterstock
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