Intel Stock and Intel Stock Price: The Incredible Comeback Story That Has Everyone Talking

Last updated: May 2026 · 13 min read

Let me tell you something that would have sounded crazy six months ago.

Intel stock is up nearly 240% so far in 2026 [citation:2].

You read that correctly. Not 24%. Two hundred and forty percent.

The stock that investors had given up on. The company that seemed to be permanently losing to AMD and Nvidia. The chipmaker that had become a punchline on Wall Street.

That Intel is now trading near $130 per share, hitting new all-time highs almost daily [citation:1][citation:10].

I have been watching this rally with a mix of amazement and skepticism. And I want to break down exactly what is happening, why Intel stock is exploding, and whether there is still an opportunity for everyday investors.

– Why Intel Stock Is Soaring: The Three Catalysts

Let me explain what is driving this historic rally.

Catalyst one: The earnings surprise

On April 23, 2026, Intel reported quarterly earnings that blew past expectations [citation:1][citation:2][citation:6].

The company reported earnings per share of $0.29. Analysts were expecting only $0.01 [citation:1][citation:10]. That is a beat of 2,800%. Revenue came in at $13.58 billion versus expectations of $12.32 billion [citation:1][citation:2].

The data center and AI segment was the standout performer. Revenue in that division grew 22% year-over-year to $5.1 billion [citation:2][citation:6]. This is the sixth consecutive quarter Intel has exceeded its own revenue forecast [citation:2][citation:6].

Catalyst two: The Apple foundry deal

The Wall Street Journal reported that Apple and Intel have reached a preliminary agreement for Intel to manufacture some of the chips that power Apple devices [citation:4][citation:7][citation:8].

This is a massive vote of confidence. Apple has historically relied on Taiwan Semiconductor for its most advanced silicon. Bringing Intel into the mix suggests that Intel's manufacturing technology has improved significantly.

Bank of America estimates that this deal could eventually generate around $10 billion in annual foundry sales for Intel by 2030, based on a roughly 25% share of Apple's chip volumes [citation:4][citation:8].

Catalyst three: The Nvidia partnership

Intel CEO Lip-Bu Tan recently revealed that Intel is working with Nvidia to develop what he called "exciting new products" [citation:3][citation:7].

Nvidia has already agreed to invest $5 billion in Intel and use the company for custom data center CPUs [citation:6]. This partnership gives Intel credibility in the AI chip market that it desperately needed.

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– Intel's Valuation: The Elephant in the Room

Let me address the most concerning aspect of this rally.

Intel's forward price-to-earnings ratio is approximately 140 [citation:6]. The average stock in the S&P 500 trades at a P/E ratio of around 20 to 25.

Intel is trading at a massive premium to the overall market and to its own historical valuations.

For comparison, Nvidia is growing much faster than Intel yet has a forward P/E ratio of only 24 [citation:6]. That makes Intel significantly more expensive than the company it is trying to catch.

GuruFocus calculates Intel's intrinsic value at only $28.02 per share using their proprietary GF Value metric [citation:9]. The current price of $129.44 represents a 362% overvaluation by that measure.

Insiders are selling. April Miller Boise, an Executive Vice President, sold 40,256 shares at an average price of $99.53 for a total value of over $4 million [citation:10]. There have been no insider purchases reported recently.

This does not mean Intel stock will crash tomorrow. But it does mean that the stock price is pricing in a level of future success that is far from guaranteed.

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– The Foundry Bet: Intel's Most Important Gamble

Let me explain the single most important factor in Intel's future.

Intel is spending billions of dollars to build out its foundry business. A foundry manufactures chips designed by other companies.

This is a fundamental shift in Intel's business model. Historically, Intel only manufactured chips it designed itself. Now it wants to manufacture chips for Apple, Nvidia, and other customers.

The foundry segment posted a $2.4 billion operating loss in the first quarter [citation:6]. Adjusted free cash flow was approximately negative $2 billion [citation:6]. Intel is burning cash to build this business.

But the potential payoff is enormous. If Intel can successfully become a major foundry player, it could tap into the same AI-driven demand that has made Nvidia so valuable.

The Apple deal, the Nvidia partnership, and the collaboration with Elon Musk's Terafab project are all evidence that Intel's foundry strategy is gaining real traction [citation:2][citation:6].

Bank of America analysts noted that even if the Apple deal is announced, it would still take two to three years of capital expenditure buildup, qualification, and production ramp-up [citation:4][citation:8]. Gross margins will likely be pressured in the early stages due to depreciation, low yields, and startup costs.

The company's target of reaching foundry operating breakeven by 2027 "could be delayed by another one to two years" [citation:4][citation:8].

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– Intel Stock Price Prediction: Where Can It Go?

Let me give you a balanced perspective.

The bull case scenario

If Intel successfully executes its foundry strategy, wins more customers like Apple and Nvidia, and continues growing its data center and AI revenue, the stock could continue climbing.

Some analysts have speculated that Intel could reach $150 per share as profit margins normalize and product lines improve [citation:7].

The bear case scenario

If the foundry business continues losing money, customer wins fail to materialize, or broader market conditions deteriorate, the stock could fall significantly.

The average analyst price target of $75.64 suggests that professional investors expect roughly 42% downside from current levels [citation:1][citation:10].

The most likely scenario

Intel is a better company today than it was six months ago. The Apple and Nvidia partnerships are real progress. The earnings beat was impressive.

But the stock price has already reflected much of this good news. Buying at $130 is very different from buying at $20.

I would personally wait for a significant pullback before considering an investment. Alternatively, dollar-cost averaging into a position over several months could manage the risk of buying at the peak.

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– Intel Stock and Your Portfolio

Let me give you practical advice.

For aggressive growth investors

Intel could still have significant upside if the turnaround story continues. But position sizing should be modest given the valuation and execution risks. Do not put more than 5% of your portfolio into any single stock.

For conservative investors

Wait for a pullback. The stock is up nearly 240% year-to-date. A 30% to 40% correction would not be surprising. That would be a better entry point.

For passive investors

Consider buying an ETF that holds Intel along with other semiconductor companies. The SMH (VanEck Semiconductor ETF) or SOXX (iShares PHLX Semiconductor Sector Index Fund) provide diversified exposure.

– Final Thoughts

Intel stock has had one of the most impressive turnarounds in stock market history.

The company that was left for dead is now being courted by Apple and Nvidia. The earnings that seemed hopeless are now beating expectations. The foundry strategy that seemed impossible is now gaining real customers.

But the stock price has already reflected much of this optimism. Buying Intel at $130 is a very different proposition than buying it at $20.

My approach would be to wait for a pullback. Let the hype settle. See if the company continues executing. Then consider a position at a more attractive valuation.

The fundamentals are improving. The trajectory is positive. But the price is high.

Invest wisely.