Intel surges after upbeat Q2 forecast on server demand potential

ReutersApr 24, 2026 8:18 AM

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Shares of chipmaker Intel INTC.O soar 21% to $80.91 premarket

Forecasts Q2 revenue between $13.8-$14.8 billion, above analysts' estimates of $13.07 bln - data compiled by LSEG

Q2 adj. EPS forecast of 20 cents above expectations of 9 cents; Q1 revenue also beat estimates

Co said on Wednesday that it has landed Elon Musk's Tesla TSLA.O as the first major customer for its next-generation 14A process to make chips at its Terafab project

At least seven brokerages raised PT on the stock following the results

HSBC says the demand for server CPUs is emerging as expected, and the upside from that is undervalued by the market; raises PT to $100 from $95 - among the highest on Wall St

Brokerage had upgraded INTC to "buy" from "hold" days before the results

Nine analysts rate stock "Buy" or higher, 34 "Hold", and four "Sell" or lower, median PT at $65 - LSEG-compiled data

Stock has skyrocketed 80% YTD, till last close

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