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Intel Corporation

Latest update

$134

Updated: Jun 18, 2026, 9:19 PM UTC

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Metrics

Intel Corporation: A Deep Dive into Current Market Dynamics and Fundamental Health

Intel (INTC) operates in the Technology sector, specifically Semiconductors, designing, developing, manufacturing, marketing, selling, and servicing computing and related end products. The company has diversified segments including Client Computing Group (CCG), Data Center and AI (DCAI), and Intel Foundry. Recent financial data reveals a company with significant market capitalization ($673.4B) but currently challenged fundamentals. Quarterly revenue is $13.6B, showing 7.2% YoY growth but a slight QoQ decline. Intel is unprofitable with a net income of -$3.7B and negative free cash flow of -$2.5B. Shareholder returns have been impacted by dilution and reduced dividends. The balance sheet appears manageable from a debt perspective, but debt service coverage is weak. Valuation is stretched with a forward P/E of 86.7x.

Growth pace
How fast the underlying business is moving, quarter by quarter. Hover any tile for the plain-English meaning.

Revenue

The total dollars the company billed customers. When this number grows quarter after quarter, the business is finding more demand.

quarterly

Latest

$13.6B

Q1 2026

The most recent reported figure, in the company's own currency and reporting cadence.

QoQ

-0.7%

vs Q4 2025

How much this quarter grew compared to last quarter. Useful for spotting acceleration or slowdown in real time.

YoY

+7.2%

vs Q1 2025

How much this quarter grew compared to the same quarter one year ago. Strips out seasonality — a slow holiday quarter looks worse QoQ but normal YoY.

CAGR

insufficient history

The smooth yearly growth rate that gets you from the starting value to the current value. A 100% CAGR over 3 years means the business tripled, on average, each year.

Net income

What's left from revenue after paying every cost — employees, materials, taxes, interest. Sometimes called profit or 'the bottom line.'

quarterly

Latest

-$3.7B

Q1 2026

The most recent reported figure, in the company's own currency and reporting cadence.

QoQ

vs Q4 2025

How much this quarter grew compared to last quarter. Useful for spotting acceleration or slowdown in real time.

YoY

vs Q1 2025

How much this quarter grew compared to the same quarter one year ago. Strips out seasonality — a slow holiday quarter looks worse QoQ but normal YoY.

CAGR

insufficient history

The smooth yearly growth rate that gets you from the starting value to the current value. A 100% CAGR over 3 years means the business tripled, on average, each year.

Free cash flow

The cash actually left in the bank after the company has paid for everything and reinvested in itself. Harder to fake than net income.

quarterly

Latest

-$2.5B

Q1 2026

The most recent reported figure, in the company's own currency and reporting cadence.

QoQ

-417.5%

vs Q4 2025

How much this quarter grew compared to last quarter. Useful for spotting acceleration or slowdown in real time.

YoY

vs Q1 2025

How much this quarter grew compared to the same quarter one year ago. Strips out seasonality — a slow holiday quarter looks worse QoQ but normal YoY.

CAGR

insufficient history

The smooth yearly growth rate that gets you from the starting value to the current value. A 100% CAGR over 3 years means the business tripled, on average, each year.

Quarterly revenue, net income & free cash flow
Bars show what the company actually reported each quarter. The growth chart below turns these into the QoQ / YoY pace the rest of this page uses.
Annual growth rate (YoY)
Year-over-year change in full-year totals. Strips out quarterly noise and seasonality so the multi-year trend is visible — not just the last 12 months.
Compound annual growth (CAGR)
The smooth yearly growth rate across each window. The "start → end" line shows the dollar value at the beginning and end of the window.
Metric3 yr2 yr1 yr
Revenue
+7.2%
$12.7B$13.6B
Net income
Free cash flow
Valuation — P/E

P/E TTM

Trailing twelve months. Today's price divided by the last year of actual earnings.

P/E NTM

86.7×

Next twelve months. Today's price divided by what analysts expect the company to earn over the coming year.

Balance sheet & valuation
The five numbers that decide whether the growth above is safe, sustainable, and reasonably priced. Descriptions on every tile — hover or scroll to read.

Profitability

Weak

Operating margin (and the wider return profile) tells you how efficiently each dollar of sales becomes profit. High and rising = pricing power; low or falling = the business is grinding.

Share count

Diluting

Are the buybacks outrunning the stock-based comp? A shrinking share count means every existing share owns a bigger slice of future earnings.

Debt load

Manageable

Total debt against cash and earnings power (EBITDA). Light debt leaves room to invest and weather downturns; heavy debt shrinks the margin for error.

Debt service

Weak

Whether the cash the business generates easily covers its interest and loan payments. Strong here = no forced selling in a bad year.

Cash return at today's price

-1.2%

Free cash flow divided by market cap — the cash yield you're getting for the price you pay. Above ~6% is rich, below ~3% is thin. P/E shown when the yield is too small to be useful.

What stands out
  • Intel's revenue grew 7.2% YoY, but quarterly figures show negative net income and free cash flow.
  • The company maintains a significant market capitalization but faces profitability and shareholder dilution challenges.
  • Valuation metrics indicate the stock is stretched, with a high forward P/E.
  • Debt load is manageable, yet debt service remains weak.
  • Shareholder returns are negatively impacted by dilution and reduced dividends.

Thesis

Why this read

Despite positive price action and momentum this week, INTC remains in a precarious position. The stock is extremely overextended from its moving averages, currently 64.7% above its weekly 21 EMA. This level of extension often precedes a significant retracement. While momentum is strong in the short term, the underlying fundamentals are still strained, characterized by negative free cash flow and net income, high valuation multiples, and ongoing shareholder dilution. Given the magnitude of the recent rally, and the existing fundamental weaknesses, the risk of a sharp reversal is high. Therefore, while the current impulse is up, we are not advocating for a chase. A 'WAIT' call is appropriate to observe if the price can consolidate these gains or if a correction materializes, which would offer a more attractive entry point if the long-term thesis were to improve.

Short-term thesis

Aligned30% conviction-10 ptsv1
Intel's Tactical Surge Amidst Fundamental Challenges: A High-Risk Proposition

Intel (INTC) is currently experiencing a significant tactical price appreciation, indicating a short-term markup cycle. However, this surge is occurring despite a backdrop of strained financial fundamentals, including negative profitability, stretched valuation, and shareholder dilution. While the company's 18A process technology holds substantial secular opportunity as a bottleneck in advanced semiconductor manufacturing, current financial health does not support the recent price levels, making new capital deployment highly risky. We recommend a cautious stance, waiting for either a significant price correction or tangible improvements in financial performance.

Long-term exposure

Avoid

The business or valuation backdrop is not ready for long-term conviction.

Entry window

Wait

Intel has experienced a strong upward move, currently trading at a significant premium above its weekly moving average. This rapid price appreciation indicates a short-term markup, but the extreme extension suggests a pullback or consolidation is likely. The underlying fundamental weakness and stretched valuation, despite the strong price action, warrant caution. For this week, the prudent approach is to wait for more clarity on whether this surge is sustainable or if a correction is imminent.

Risk check

Fragile

The downside can widen quickly if this setup goes wrong.

Alignment

Aligned

The weekly weakness matches a poor long-term backdrop.

What supports it

  • The stock is leading the broad market by 11.9 points over the past month.
  • The stock is also leading its sector by 4.6 points.
  • Analyst revisions have been net positive over the past month.
  • Significant upward price momentum and strong daily performance.

What limits it

  • This needs smaller size or more patience.
  • Debt service looks stretched for current cash generation.
  • Price already asks a lot from the business.
  • Business trend still needs more proof.

Long-term thesis

Intel's 18A process technology and its broader foundry ambitions position the company as a potential cornerstone for advanced semiconductor manufacturing, crucial for meeting surging demand in AI and high-performance computing.

65opportunity50% thesis conf
Crossing Chasm2y horizon

Bottleneck Role

Intel's 18A process technology is a critical bottleneck in the advanced semiconductor manufacturing landscape. As demand for cutting-edge chips (especially for AI and high-performance computing) outstrips current fabrication capacity, Intel's ability to offer this technology can position it as a key enabler for the industry, commanding premium pricing and utilization.

Consensus Blind Spot

The market may be underestimating the long-term structural demand shift towards diversified, geographically resilient, and technologically advanced foundry options, moving beyond a single dominant player. Intel's deep integration capabilities (IDM 2.0) could offer a unique value proposition that current valuation multiples, focused on legacy business, don't fully capture.

Demand Gap

The escalating demand for AI accelerators, high-performance computing, and specialized chips exceeds the current and near-term projected capacity, particularly for leading-edge process technologies. This gap creates a strategic opening for Intel's foundry business.

Demand to Equity Scenarios

Bear60% conf

Slower-than-expected adoption of 18A due to execution delays, increased competition, or customer reluctance.

Demand

-25%

Earnings

-25%

Equity implication

-30%

Underutilization of foundry capacity, margin compression, and significant R&D write-downs.

Base70% conf

Steady demand for advanced chips and moderate success of 18A, with Intel securing a meaningful but not dominant market share.

Demand

+10%

Earnings

+15%

Equity implication

+20%

Gradual revenue growth in foundry, improved but still modest profitability, and increased but not premium utilization.

Bull40% conf

Explosive demand for AI/HPC chips, combined with successful execution and rapid ramp-up of 18A, establishing Intel as a critical foundry partner.

Demand

+30%

Earnings

+50%

Equity implication

+70%

High utilization rates, strong pricing power, significant market share gains, and strong positive operating leverage.

Dependency Chain

  1. 1Accelerating demand for AI/HPC chips.
  2. 2Scarcity of cutting-edge fabrication capacity beyond dominant players.
  3. 3Successful ramp-up and market adoption of Intel's 18A process.
  4. 4Increased utilization and premium pricing for Intel Foundry services.
  5. 5Significant positive earnings revisions for Intel.
  6. 6Re-rating of Intel's equity valuation to reflect its strategic importance.

Repricing Triggers

  • Major customer wins and design-ins for 18A process technology.
  • Faster-than-expected ramp-up and yield improvements in Intel Foundry.
  • Positive earnings surprises driven by foundry revenue and improved margins.
  • Strategic partnerships or government incentives for domestic chip manufacturing.
  • Analyst upgrades reflecting a clearer path to profitability and market share in foundry.
  • Significant reduction in shareholder dilution.

Must be true

  • Intel can execute its foundry strategy effectively and on schedule.
  • Demand for leading-edge AI/HPC chips will continue to grow robustly.
  • Customers are willing to diversify their foundry suppliers beyond Taiwan Semiconductor Manufacturing Company (TSMC).
  • Intel can achieve competitive yields and cost structures for its advanced processes.

Thesis broken if

  • Significant delays in 18A process development or ramp-up.
  • Lack of major customer announcements for Intel Foundry.
  • Continued negative free cash flow or worsening profitability despite revenue growth.
  • Increased competitive intensity eroding potential pricing power.
  • Further acceleration of shareholder dilution.

History

What changed

Since the previous run · 1 month ago
Prior call was wrong

Signal

SELLSELL

Conviction

50%40%-10 pts

Long term

AvoidAvoid

Stock

$116.96$133.99+14.6%

Added since last run

8
  • Significant upward price momentum and strong daily performance.
  • High trading volume indicating increased interest.
  • Strong relative strength against the broader market and sector over longer periods.
  • Extreme overextension from both daily and weekly moving averages, suggesting a potential reversion.
  • Negative free cash flow and net income, indicating fundamental weakness.
  • Stretched valuation with a high forward P/E despite profitability issues.
  • Continued shareholder dilution and reduction in dividends.
  • Weak debt service coverage.

No longer flagged

0

Nothing dropped this run

Model's reflection on the prior call

The previous sell call at $116.96 was incorrect as the stock moved significantly against the predicted direction, rising by 14.6%. The reasoning, which focused on overextension and a likely pullback within a broader distribution, failed to account for the actual upward momentum.

Analysis timeline
6 runs

Jun 18, 2026

Latest

Updated Jun 18, 2026, 9:19 PM UTC

WeeklyWAIT
Long termAVOID
Confidence40% · Low

Price at review

$134

Intel has experienced a strong upward move, currently trading at a significant premium above its weekly moving average. This rapid price appreciation indicates a short-term markup, but the extreme extension suggests a pullback or consolidation is likely. The underlying fundamental weakness and stretched valuation, despite the strong price action, warrant caution. For this week, the prudent approach is to wait for more clarity on whether this surge is sustainable or if a correction is imminent.

Jun 12, 2026

Updated Jun 12, 2026, 9:58 AM UTC

WeeklySELL
Long termAVOID
Confidence50% · Low

Price at review

$117

Intel experienced a strong move upward this week, but the stock remains significantly extended above its weekly moving average. Given the prior trend of distribution and the current overextension, a pullback is likely in the near term. We continue to see the current price as a selling opportunity for those looking to reduce exposure.

Jun 4, 2026

Updated Jun 4, 2026, 11:12 PM UTC

WeeklySELL
Long termWATCH
Confidence85% · High

Price at review

$112

Expect further price erosion as the stock struggles to find support above the $100 level.

May 28, 2026

Updated May 28, 2026, 9:43 PM UTC

WeeklySELL
Long termWATCH
Confidence70% · Medium

Price at review

$121

The stock remains deeply overextended and is likely to see further profit-taking. Recent price action suggests buyers are exhausted after the failed attempt to sustain new highs.

May 19, 2026

Updated May 19, 2026, 8:39 AM UTC

WeeklySELL
Long termWATCH
Confidence90% · High

Price at review

$108

The recent price drop and fading trading activity suggest the top is in. Expect a continued move lower as the enthusiasm cools and the gap with the long-term average remains massive.

May 9, 2026

Updated May 9, 2026, 9:37 AM UTC

WeeklySELL
Long termWATCH
Confidence85% · High

Price at review

$125

The stock is in a full-blown vertical blow-out phase that has moved too far, too fast to be sustainable. Expect a violent correction to reality once the current buying mania exhausts itself.