Intel Corp. (NASDAQ:INTC) stock was up more than 4% in Friday’s premarket trading as improving risk appetite and renewed optimism around artificial intelligence infrastructure spending lifted semiconductor stocks. Nasdaq futures gained 1.04%, while S&P 500 futures rose 0.28%.
Major cloud providers reinforced expectations for sustained AI infrastructure investment. Microsoft Corp. (NASDAQ:MSFT) and Alphabet Inc. (NASDAQ:GOOGL) reaffirmed robust capital expenditure plans.
Meanwhile, Amazon.com Inc.’s (NASDAQ:AMZN) Amazon Web Services said it reached a $25 billion annual revenue run rate from services powered by its custom AI chips. Together, the updates boosted sentiment across AI-related chipmakers.
Intel’s premarket gains appear to reflect broader strength in technology stocks rather than a company-specific announcement. Buyers returned after July’s pullback pushed the stock closer to key long-term support levels.
The shares remain well below their June high, but traders are watching whether the recent July low can serve as a base for a recovery. That keeps attention on near-term support and resistance instead of the longer-term bullish trend.
Technical Analysis
Intel remains up 360.25% over the past 12 months, although short-term momentum has weakened.
The stock trades 6.4% below its 20-day simple moving average and 15.7% below its 50-day SMA. However, it remains 3.8% above its 100-day SMA and 43% above its 200-day SMA, suggesting the longer-term trend remains intact despite recent weakness.
Momentum indicators have softened. The MACD remains below its signal line, and the histogram is negative, indicating buying momentum has faded. Traders will likely look for renewed buying pressure before calling for a sustained rebound.
The moving-average setup is mixed. The 20-day SMA sits below the 50-day SMA, reflecting short-term weakness. However, the 50-day SMA remains above the 200-day SMA following the golden cross formed in August 2025, leaving the longer-term uptrend intact.
Key support: $89.50. Traders are watching this level closely after buyers defended it during July’s sell-off.
Investors Watch Intel’s AI And Foundry Progress
Intel designs and manufactures processors for personal computers and data centers. The company remains one of the largest CPU suppliers globally while continuing to expand its manufacturing business through Intel Foundry.
Investors are closely monitoring execution across both Intel Products and the foundry business as the company works to strengthen its competitive position during the AI-driven semiconductor cycle.
Analyst Outlook
The stock carries a consensus Hold rating with an average price forecast of $109.07. Recent analyst actions include:
- Bank of America Securities maintained a Buy rating and raised its price forecast to $160 on July 28.
- Baird raised its price forecast to $125 while maintaining a Neutral rating on July 27.
- D.A. Davidson raised its price forecast to $100 and maintained a Neutral rating on July 24.
Benzinga Edge Rankings
Intel carries a Momentum score of 98.99, reflecting strong relative performance versus the broader market despite the recent pullback.
The stock continues to attract momentum investors, although traders will likely watch whether it can reclaim its 20-day and 50-day moving averages while holding above the $89.50 support level.
Top ETF Exposure
Intel is a significant holding in several semiconductor-focused exchange-traded funds, including:
- VanEck Semiconductor ETF (NASDAQ:SMH): 7.36% weighting
- Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ): 6.64% weighting
- Invesco AI and Next Gen Software ETF (NYSE:IGPT): 7.25% weighting
Large inflows or outflows in these funds can create additional buying or selling pressure for Intel shares.
Price Action
INTC Stock Price Activity: Intel shares were up 4.28% at $95.03 during premarket trading on Friday, according to Benzinga Pro data.
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