Intel Corp. (NASDAQ:INTC) stock climbed nearly 6% in Thursday’s premarket session after strong results and guidance from Micron Technology Inc. (NASDAQ:MU) lifted sentiment across the AI semiconductor sector. A fresh analyst initiation from Goldman Sachs also added to the bullish momentum. S&P 500 futures were up 0.7% before the opening bell.
Micron Results Lift AI Chip Stocks
Micron reported fiscal third-quarter adjusted earnings of $25.11 per share on revenue of $41.46 billion, beating Wall Street expectations. The memory-chip maker also forecast fiscal fourth-quarter adjusted earnings of about $31 per share on revenue of roughly $50 billion.
Adding to the positive sentiment, Goldman Sachs analyst James Schneider initiated coverage of Intel on Thursday with a Neutral rating and a $150 price forecast.
Technical Picture Remains Strong
At around $139, Intel is approaching its 52-week high of $141.45. A move above that level could signal another leg higher, while rejection near the previous high may trigger profit-taking.
The stock remains in a strong uptrend. It trades 16.8% above its 20-day simple moving average of $118.49, 30.9% above its 50-day SMA of $105.74 and 142.2% above its 200-day SMA of $57.17.
The moving average convergence/divergence indicator also remains constructive. MACD is above its signal line with a positive histogram, suggesting bullish momentum continues to build.
Key resistance stands at $141.45, while initial support sits near the 20-day SMA at $118.49.
Earnings And Analyst Outlook
Intel is expected to report quarterly results on July 23.
Wall Street expects earnings of 19 cents per share, compared with a loss of 10 cents a year earlier. Revenue is projected to rise to $14.40 billion from $12.86 billion.
The stock currently carries a Hold consensus rating with an average analyst price forecast of $86.41. Recent analyst actions include:
- Goldman Sachs: Initiated with Neutral; $150 price forecast (June 25)
- Bank of America Securities: Reiterated Buy; raised price forecast to $160 (June 23)
- Bank of America Securities: Upgraded to Buy; raised price forecast to $135 (June 11)
Benzinga Edge View
According to Benzinga Edge, Intel has a Momentum score of 99.43, reflecting strong relative strength and sustained buying pressure.
The stock’s trend remains favorable, but investors will be watching whether Intel can decisively break above its 52-week high without triggering a sharp pullback after its recent rally.
ETF Exposure
Intel remains a major holding in several semiconductor and value-focused exchange-traded funds, including:
- iShares Semiconductor ETF (NASDAQ:SOXX): 6.30% weighting
- iShares MSCI USA Value Factor ETF (BATS:VLUE): 9.28% weighting
- Pacer Data and Digital Revolution ETF (NYSE:TRFK): 7.85% weighting
Strong inflows or outflows in these funds can create additional buying or selling pressure in Intel shares.
Price Action
INTC Stock Price Activity: Intel shares were up 5.58% at $139.00 during premarket trading on Thursday, according to Benzinga Pro data.
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