Intel Corp. (NASDAQ:INTC) stock fell more than 2% in Wednesday’s premarket session as investors continued to trim exposure to technology stocks amid a broader risk-off market.

The stock plunged 9.66% in Tuesday’s regular session and extended those losses before the opening bell. Nasdaq futures were down 0.92%, while S&P 500 futures slipped 0.67%, adding pressure across semiconductor stocks.

After a strong 12-month rally, investors may also be taking profits as markets turn more cautious. Selling pressure tends to intensify in high-beta technology stocks when index futures point lower.

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Technical Picture Turns Mixed

Intel remains in a strong long-term uptrend despite the recent pullback. The stock trades 31% above its 100-day simple moving average and 77.2% above its 200-day simple moving average. The golden cross that formed in August 2025 also continues to support the longer-term trend.

However, the near-term outlook has weakened. Intel is trading 12.6% below its 20-day SMA and 6% below its 50-day SMA, suggesting short-term momentum has faded.

The moving average convergence/divergence (MACD) indicator remains below its signal line, while the histogram is negative. That typically signals weakening bullish momentum until buyers regain control.

Key resistance stands near $126.50, while support is around $102.50.

Earnings And Analyst Outlook

Intel is scheduled to report second-quarter 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.

Analysts maintain a consensus Hold rating with an average price forecast of $88.63. Recent actions include:

  • Cantor Fitzgerald: Neutral; raised its price forecast to $150 on June 29.
  • Goldman Sachs: Initiated coverage with a Neutral rating and a $150 price forecast on June 25.
  • Bank of America: Reiterated Buy and raised its price forecast to $160 on June 23.

INTC Stock Price Activity: Intel shares were down 2.26% at $107.90 during premarket trading on Wednesday, according to Benzinga Pro data.

Image via Shutterstock

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