Intel set for biggest daily jump in decades after upbeat forecast sparks rally

ReutersApr 24, 2026 2:57 PM

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Chipmaker Intel INTC.O surges 23% to $82.07, surpassing its 2000s dotcom-era peak

Stock set for biggest one-day gain since October 1987; market capitalization now above $416 bln, from $335 bln as of last close, per LSEG data

Forecasts Q2 revenue between $13.8 bln to $14.8 bln, 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 had 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 eighteen brokerages raised PTs on the stock following the results, Evercore ISI upgrades to "outperform" from "in line"

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 Street

Stock trading at around 90 times its 12-month forward earnings estimates, its highest on record

Nine analysts rate stock "buy" or higher, 34 "hold", and four "sell" or lower, median PT at $75 - LSEG-compiled data

*Including session's moves, stock has more than doubled YTD

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