Intel Corp (NASDAQ:INTC) stock gained over 2% during Wednesday’s premarket session as AI customers keep spending on chip capacity, lifting sentiment across parts of the semiconductor supply chain. The move is also tracking a modestly positive pre-bell tone, with S&P 500 futures up 0.2%.

Intel is deepening its partnership with ASML Holding N.V. (NASDAQ:ASML) by using ASML’s most advanced chipmaking machine to help produce part of its Panther Lake laptop processors.

Intel Tests Advanced Production

ASML said Intel is using the high numerical aperture (High NA) extreme ultraviolet (EUV) ​tool on selected parts of its Panther Lake chips, giving both companies data to improve setup, reliability and production use.

ASML Deal Supports Intel Comeback

Naga Chandrasekaran, executive vice president and general manager of Intel’s factory division, told Bloomberg in a statement that the milestone reflects close technical collaboration between Intel and ASML and shows how High NA EUV can be used in advanced chip manufacturing at scale.

The move could help Intel show progress in rebuilding its manufacturing strength and attracting outside customers to its foundry business.

Technical Analysis

With futures green, Intel’s premarket bounce is happening from a technically mixed spot: the stock is trading 10.8% below its 20-day SMA and 6.6% below its 50-day SMA, even as it remains 27.6% above the 100-day SMA and 73.5% above the 200-day SMA. That combination often reads as "longer-term uptrend, shorter-term cooling," especially after the June swing high and the pullback that followed.

Earnings & Analyst Outlook

The countdown is on: Intel Corp is set to report earnings on July 23, 2026 (confirmed).

  • EPS Estimate: 19 cents (Up from Loss of 10 cents YoY)
  • Revenue Estimate: $14.40 Billion (Up from $12.86 Billion YoY)

Analyst Consensus & Recent Actions: The stock carries a Hold rating with an average price forecast of $94.85. Recent analyst moves include:

  • Keybanc: Overweight (Raises Forecast to $155.00) (July 14)
  • UBS: Neutral (Raises Forecast to $121.00) (July 13)
  • TD Cowen: Hold (Raises Forecast to $115.00) (July 13)

Top ETF Exposure

  • VanEck Semiconductor ETF (NASDAQ:SMH): 7.36% Weight
  • State Street SPDR NYSE Technology ETF (NYSE:XNTK): 6.35% Weight
  • Invesco AI and Next Gen Software ETF (NYSE:IGPT): 7.25% Weight

Significance: Because INTC carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

Price Action

INTC Stock Price Activity: Intel shares were up 2.48% at $110.42 during premarket trading on Wednesday, according to Benzinga Pro data.

Image via Shutterstock

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