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Intel Corp. INTC stock rose Wednesday, even as the broader market traded lower, as investors positioned ahead of the chipmaker’s quarterly earnings report due Thursday.
The Nasdaq was down 0.51%, while the S&P 500 slipped 0.13%.
Intel is scheduled to report second-quarter results on Thursday, July 23. The upcoming release has prompted investors to adjust positions, often leading to larger price swings ahead of earnings.
The stock has also posted strong gains over the past year. As a result, traders are watching closely to see whether the recent pullback creates a buying opportunity or signals further weakness.
SK Hynix Denies Report It Is Buying Intel’s Ohio Chip Campus
Separately, SK hynix Inc. SKHY on Tuesday denied a report that it is in talks to acquire Intel’s Ohio semiconductor campus.
The South Korean memory chipmaker said in a filing with the Korea Exchange that it has “not pursued or decided to acquire Intel’s Ohio site and fab,” rejecting a report from Korea JoongAng Daily that claimed the company was negotiating to buy the facility.
An SK hynix spokesperson also told Benzinga, “We have no plans for an acquisition.”
Intel Technical Analysis
Intel remains in a long-term uptrend despite recent weakness. The stock trades 16.7% above its 100-day simple moving average of $89.28 and 59.8% above its 200-day SMA of $65.17.
However, short-term momentum has softened. Intel is about 9% below its 20-day SMA of $114.47 and 10.5% below its 50-day SMA of $116.45.
The moving averages paint a mixed picture. The 20-day SMA has fallen below the 50-day SMA, signaling short-term weakness. However, the 50-day SMA remains above the 200-day SMA following the golden cross formed in August 2025, suggesting the longer-term trend remains positive.
Momentum indicators also remain cautious. The moving average convergence divergence (MACD) is below its signal line, while the histogram is negative. That suggests buying momentum has weakened and buyers need to regain control to restart the uptrend.
The next key support level sits near $98.50, which traders may watch if the recent pullback continues.
Earnings Expectations And Analyst Views
Wall Street expects Intel to report earnings of 19 cents per share, compared with a loss of 10 cents per share a year earlier. Revenue is projected to increase to $14.40 billion from $12.86 billion in the prior-year quarter.
The stock carries a consensus Hold rating with an average analyst price forecast of $98.77. Recent analyst actions include:
- Morgan Stanley maintained Equal-Weight and raised its price forecast to $75 on July 20.
- Susquehanna maintained Neutral and increased its price forecast to $115 on July 16.
- KeyBanc maintained Overweight and lifted its price forecast to $155 on July 14.
The Funds Most Invested In INTC
Intel is a major holding in several semiconductor-focused exchange-traded funds, including:
- VanEck Semiconductor ETF SMH: 7.36%
- Invesco PHLX Semiconductor ETF SOXQ: 6.64%
- Invesco AI and Next Gen Software ETF IGPT: 7.25%
Strong inflows or outflows in these funds can influence Intel shares through automatic portfolio rebalancing.
Intel Price Action
INTC Stock Price Activity: Intel shares were trading up 0.60% at $106.08 at the time of publication on Wednesday, according to Benzinga Pro data.
Image via Shutterstock
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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This article What's Going on With Intel Stock Wednesday? originally appeared on Benzinga.com.
