INTC · Intel Corp

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$90.07 -2.06 (-2.24%) At close · Aug 21

Market Cap

$453.46B

5.04B

Up next

Next earnings call

Oct 22, 2026 Est · unconfirmed · in 9 wks

FQ3-26 quarter ends

~Sep 27, 2026 Est

Latest filing: 10-Q

filed Jul 24, 2026

AI Brief

TL;DR.

Bullish

Bearish

AI-generated from the earnings call and 8-K · may contain errors · not investment advice

Ask ALVIS about this →

Equibles Research

our published analysis of this company

Research Thesis July 26, 2026

Intel: The $465.7B market cap attached to a $57.0B money-losing business has one quarter to prove the Q2 2026 reset

Intel's 326.7% rally has priced in a turnaround the Q2 2026 print only just began to earn, with $57.0B of TTM revenue against -$77.0M of TTM EBIT. The Q3 2026 guide of $15.8B–$16.8B revenue and $0.31 GAAP EPS is the first datapoint that will decide whether the 41.8% non-GAAP gross margin holds and a dividend reinstatement becomes credible, or whether the -28.9% drawdown from $140.94 deepens.
Research Thesis July 26, 2026

AMD at 171.1× earnings is the cycle's most multiple-expanding bet, and Q2 2026 is the bar

Advanced Micro Devices trades at 171.1× on +34.3% revenue growth against Nvidia at 31.7× on +125.9% and Broadcom at 63.6× on +143% AI semiconductor growth, with the $11.2B Q2 2026 guide and initial Helios volume in Q3 now the only thing standing between the multiple holding and a re-rating toward Broadcom's 63.6×.

Equibles Rating

blended score · not investment advice

Overall

Neutral

SellHoldBuy

Technical Sell Momentum Strong Sentiment Bullish Fundamentals Fair Quant / Vol Very High

Market backdrop VIX 15.1 · calm Equity put/call 0.51

Technical

price trend

Sell

50 / 200-day cross No cross

Price vs 200-day avg +26%

above

Price vs 50-day avg −17%

below

RSI (14) 40

neutral

MACD trend Negative

52-week position 57%

mid-range

Momentum

relative strength

Strong

1-month return −2%

trailing

6-month return +98%

trailing

YTD return +144%

this year

Relative strength +86%

vs S&P · 6-mo

Sentiment

smart money

Bullish

Trend (MA cross) No cross

50d $108 › 200d $72 — 50d above 200d

Institutional flow Accumulating

+37% holders QoQ · +1,122 funds added

Insider flow Accumulating

Net +$7.5M over 90 days · 50% sells

Short interest Rising

2.48% of float · ▲ +3.4% MoM · 1.0 days cover

Volume signal Normal

Volume near normal

Institution breadth Multi-yr high

3,563 holders — near 3-yr high, broad support

Squeeze score 44

elevated · 0–100

Fundamentals

Fair

Revenue growth −0%

Y/Y

Gross margin 35%

expanding

EPS growth +99%

Y/Y

Free cash flow $-4.9B

Buyback $7.2B

remaining

Balance sheet $32.3B

net debt

Quant / Vol

risk profile

Very High

Volatility 79%

annualized · 1-yr

Max drawdown −42%

past year

ATR 7.2%

of price · 14-day

Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.

Guidance & track record

what management promised — and delivered

Beat or met 5 of last 6

Latest guidance · from the 8-K filed Jul 23, 2026

Revenue · Q3 2026 Initiated $15.8B – $16.8B

prior qtr $16.13B midpoint +1.1% QoQ

Earnings (Loss) Per Share Attributable to Intel—Diluted · Q3 2026 Initiated $0.31

prior qtr $-2.16 midpoint +114.4% QoQ

Earnings (Loss) Per Share Attributable to Intel—Diluted · Q3 2026 Initiated $0.38

Gross margin · Q3 2026 Initiated 41%

Gross margin · Q3 2026 Initiated 42%

Prior guidance period ended · from the 8-K filed Apr 23, 2026

Revenue · Q2 2026 $13.8B – $14.8B

Earnings (Loss) Per Share Attributable to Intel—Diluted · Q2 2026 $0.08

Gross margin · Q2 2026 37.5%

Tax Rate · Q2 2026 4%

Guided vs delivered · last 6 settled

Revenue Q4 2025

guided $12.8B – $13.8B

guided $12.8B – $13.8B $13.67B In line

Revenue Q3 2025

guided $12.6B – $13.6B

guided $12.6B – $13.6B $13.65B Beat +4.2%

Earnings (Loss) Per Share Attributable to Intel—Diluted Q3 2025

guided $-0.24

guided $-0.24 $0.90 Beat +475.0%

Q1 revenue Q1 2024

guided $12.2B – $13.2B

guided $12.2B – $13.2B $12.72B In line

Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.

Technicals

trend & momentum for long-term holders Sell

2 · 3 · 1

50 / 200-day cross

No cross Neutral

Price vs 200-day avg

+26% Bullish

Price vs 50-day avg

−17% Bearish

RSI (14)

40 Neutral

MACD trend

Negative Bearish

52-week position

57% Neutral

Market signals — smart money & positioning

Bullish · 3 of 6

Trend (MA cross) No cross

50d $108 › 200d $72 — 50d above 200d

Institutional flow Accumulating

+37% holders QoQ · +1,122 funds added

Insider flow Accumulating

Net +$7.5M over 90 days · 50% sells

Short interest Rising

2.48% of float · ▲ +3.4% MoM · 1.0 days cover

Volume signal Normal

Volume near normal

Institution breadth Multi-yr high

3,563 holders — near 3-yr high, broad support

Price context

position in its 52-week range

Range low $24 Now $90 · 57% Range high $141

vs 200-day avg +26% vs 50-day avg -17%

Illustrative technical + ownership context — a signal mix, not investment advice.

Key metrics

the company's own KPIs, from written earnings releases and filings

Metric	Latest	Period	YoY
All Other revenue	$701M	FY2026 Q2	-33.4%

Client Computing Group (CCG) revenue	$8.88B	FY2026 Q2	+12.4%

Intel Foundry external revenue	$293M	FY2026 Q2	+1231.8%

Intel Foundry intersegment revenue	$5.77B	FY2026 Q2	+31.0%

Adjusted free cash flow non-GAAP	-$8.42B	Q2 2026	—

GAAP → non-GAAP reconciliation GAAP GAAP net cash provided by (used for) operating activities 7.01B -2.65B Additions to property, plant, and equipment (gross capital expenditures) +60M Proceeds from capital-related government incentives -12.22B Partner contributions, net -617M Payments on finance leases = Adjusted free cash flow -8.42B
All other	$0.7B	Q2 2026	—
Cash from operations	$7B	Q2 2026	+233.3%

Client Computing and Physical AI Group (CCPG)	$8.9B	Q2 2026	+13.1%

Data Center and AI (DCAI)	$6.3B	Q2 2026	+59.9%

Intel Foundry	$5.8B	Q2 2026	+31.8%

Intersegment eliminations	-$5.5B	Q2 2026	—
Non-GAAP earnings (loss) per share attributable to Intel—diluted non-GAAP	$0.42	Q2 2026	—

GAAP → non-GAAP reconciliation GAAP GAAP earnings (loss) per share attributable to Intel—diluted -$2.16 +$0.02 Acquisition-related adjustments +$0.13 Share-based compensation +$0.03 Restructuring and other charges +$0.01 (Gains) losses on equity investments, net +$0 (Gains) losses from divestiture +$2.45 (Gains) losses on mark-to-market of Escrowed Shares -$0.01 Adjustments attributable to non-controlling interest -$0.05 Income tax effects = Non-GAAP earnings (loss) per share attributable to Intel—diluted $0.42
Non-GAAP gross margin non-GAAP	41.8%	Q2 2026	+40.7%

Non-GAAP gross margin percentage non-GAAP	41.8%	Q2 2026	—

GAAP → non-GAAP reconciliation GAAP GAAP gross margin percentage 40.4% +0.6% Acquisition-related adjustments +0.8% Share-based compensation = Non-GAAP gross margin percentage 41.8%
Non-GAAP gross profit non-GAAP	$6.74B	Q2 2026	—

GAAP → non-GAAP reconciliation GAAP GAAP gross profit 6.51B +100M Acquisition-related adjustments +128M Share-based compensation = Non-GAAP gross profit 6.74B
Non-GAAP net income (loss) attributable to Intel non-GAAP	$2.2B	Q2 2026	—

GAAP → non-GAAP reconciliation GAAP GAAP net income (loss) attributable to Intel -11.03B +117M Acquisition-related adjustments +687M Share-based compensation +170M Restructuring and other charges +39M (Gains) losses on equity investments, net +1M (Gains) losses from divestiture +12.53B (Gains) losses on mark-to-market of Escrowed Shares -42M Adjustments attributable to non-controlling interest -271M Income tax effects = Non-GAAP net income (loss) attributable to Intel 2.2B
Non-GAAP operating income (loss) non-GAAP	$2.77B	Q2 2026	—

GAAP → non-GAAP reconciliation GAAP GAAP operating income (loss) 1.8B +117M Acquisition-related adjustments +687M Share-based compensation +170M Restructuring and other charges = Non-GAAP operating income (loss) 2.77B
Non-GAAP operating margin non-GAAP	17.2%	Q2 2026	—

Non-GAAP R&D and MG&A non-GAAP	$4B	Q2 2026	-7.0%

GAAP → non-GAAP reconciliation GAAP GAAP R&D and MG&A 4.54B -17M Acquisition-related adjustments -559M Share-based compensation = Non-GAAP R&D and MG&A 3.97B
Non-GAAP tax rate non-GAAP	11%	Q2 2026	-8.3%

GAAP → non-GAAP reconciliation GAAP GAAP tax rate -0.3% +11.3% Income tax effects = Non-GAAP tax rate 11%
Total Intel Products revenue	$15.1B	Q2 2026	+28.0%

All Other operating income	$102M	Three Months Ended Mar 28, 2026 filing	—
All Other operating margin %	16%	Three Months Ended Mar 28, 2026 filing	—
Mobileye revenue	$558M	Three Months Ended Mar 28, 2026 filing	—

Employees (Intel)	78.5K	Three Months Ended Mar 28, 2026	—
Employees (Mobileye and other subsidiaries)	4.7K	Three Months Ended Mar 28, 2026	—
Employees (Total Intel)	83.2K	Three Months Ended Mar 28, 2026	—
Non-GAAP operating expenses non-GAAP	$16.5B	Full-Year 2026	+0.0%

Net capital expenditures non-GAAP	-$11.2B	Twelve Months Ended Dec 27, 2025	—

GAAP → non-GAAP reconciliation GAAP Additions to property, plant and equipment -$17.67B +$1.58B Proceeds from capital-related government incentives +$4.89B Partner contributions, net = Net capital expenditures -$11.2B
Altera revenue	$448M	Q2 2025 filing	+24.1%

DCAI server volume increase	13%	Q2 2025 filing	—
Impairment charges and accelerated depreciation	$800M	Q2 2025	—
Intel Products operating income	$2.7B	Q2 2025 filing	—
Non-cash asset impairment and accelerated depreciation charges	$797M	Q2 2025 filing	—
Non-cash asset impairment charges	$416M	Q2 2025	—
Pre-tax employee severance and related employee exit charges	$1.4B	Q2 2025	—
Server ASPs decrease	8%	Q2 2025 filing	—
third party foundry and assembly and test revenues from external customers	$22M	the three months ended June 28, 2025 filing	—
Total restructuring, impairment and accelerated depreciation charges	$1.9B	Q2 2025	—
Network and Edge revenue	$5.84B	FY2024	+1.2%

Non-GAAP earnings per share attributable to Intel—diluted non-GAAP	-$0.46	Three Months Ended Sep 28, 2024 filing	-212.2%

Client Computing Group revenue	$7.33B	Three Months Ended Sep 28, 2024	—
Deferred tax asset valuation allowance	$9.9B	Q3 2024	—
dividends paid	-$1.6B	Nine Months Ended Sep 28, 2024	—

Goodwill and acquired intangible asset impairment charges	$2.9B	Q3 2024	—
gross capital expenditures	-$18.11B	Nine Months Ended Sep 28, 2024	—
Headcount reductions	16,500	Q3 2024	—
Impairment and accelerated depreciation charges for certain manufacturing assets	$3.1B	Q3 2024	—
Network and Edge (NEX) revenue	$1.5B	Q3 2024	—

Restructuring charges	$2.8B	Q3 2024	—
Restructuring charges (cash settled)	$2.2B	Q3 2024	—
Restructuring charges (non-cash)	$528M	Q3 2024	—
Employees (NAND)	3.5K	Jun 29, 2024	—
Employees	130.7K	Three Months Ended Mar 30, 2024	—
Non-GAAP net revenue non-GAAP	$63.05B	Twelve Months Ended Dec 31, 2022	—

Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period

Versus peers

Semiconductors — same industry group

Open screener →

Company	Mkt cap	YTD	Rev growth Y/Y	P/E	Short % shares
INTC Intel Corp this stock	$453.46B	+144.1%	-0.5%	—	2.5%
NVDA Nvidia Corp	$5.20T	+15.1%	+65.5%	32.9	1.2%
TSM Taiwan Semiconductor Manufacturing Co Ltd	$2.17T	+37.9%	—	—	0.6%
AVGO Broadcom Inc.	$1.75T	+6.5%	+18.2%	61.3	1.3%
SKHY SK hynix Inc.	$1.16T	—	—	—	0.3%

Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding

At a glance

key data from every section

Ownership

Institutional Holders Accumulating

Holders

3,563

% held: 76.5%
Net QoQ: +249.8M sh
Top holder: BlackRock, Inc.

Held Float

View

Held by Funds

Fund positions

1,187

View

Short & Settlement

Short Interest Rising

Shares short

125.1M

Days to cover: 1.0d
Change: +4.1M sh

View

Short Volume

Short vol %

45%

As of: Aug 21, 2026

Short Total

View

Fails to Deliver

FTD shares

1.2K

Value: $106.9K
As of: Jul 31, 2026

View

Off-Exchange

Off-exchange %

49.4%

Week of: Jul 13, 2026

Off-exch Lit

View

Smart Money

Insider Trades Net buying

Net (90d)

+$7.5M

Buyers / Sellers: 1 / 1

Buyers Sellers

View

Congressional Trades Sell

Member

Shelley M Capito

Amount: $1.0K–$15.0K
Traded: Jul 21, 2026

View

Financials

Revenue (FY)

$52.9B

Net income (FY): $-267.0M
EPS diluted: $-0.06

View

Buybacks

Authorized

$110.0B

Remaining: $7.2B

Spent Remaining

View

Filings

SEC Filings

Latest

8-K

Filed: Aug 12, 2026
This year: 16

View

Proposed Sales

Value

$2.5M

Shares: 21.0K
Filed: May 29, 2026

View

Exempt Offerings

Offering

$25.0M

Filed: Mar 25, 2025

View

Earnings & Events

Earnings Calls Upcoming

Next call

Aug 26, 2026

Last call: Jul 23, 2026

View

Investor Relations

Upcoming events

View

Performance

	5D	20D	120D	MTD	YTD
INTC	-12.1%	-2.4%	+98.0%	-0.1%	+144.1%
SPY	-1.4%	+3.6%	+11.6%	+2.5%	+12.3%
vs SPY	-10.8%	-6.1%	+86.4%	-2.6%	+131.8%

Capital returns

Latest dividend

$0.125 / share · ex Aug 7, 2024

Cut 65.8%

Paid (TTM)

$0.00 / share · 0 payouts

Dividend yield (TTM, derived)

— · no payout in the trailing year

Buyback program · as of Jun 27, 2026

Authorized

$110.00B

Spent (derived)

$102.80B

Remaining

$7.20B

Spent Remaining

Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.

Key facts CIK 50863 CUSIP 458140100 13F (30d) 2599 filings 2519 filers Visit website Investor relations

INTC · Intel Corp

Price & Indicators

Up next

AI Brief

Equibles Research

Equibles Rating

Guidance & track record

Technicals

Key metrics

Versus peers

At a glance

Performance

Capital returns