Intel (INTC) Earnings Preview: What Wall Street Expects on April 23

Key Takeaways

• Intel’s Q1 2026 financial results will be released after trading hours on April 23, Thursday
• Wall Street consensus calls for $0.02 earnings per share, representing approximately 90% growth versus last year, alongside $12.42 billion in sales
• Shares have surged more than 78% in 2025, recently reaching $70.32—the highest level in a quarter century
• Stifel Nicolaus upgraded its target price to $65 from $42 while keeping a Hold stance
• The options market suggests roughly 10% volatility in either direction following the earnings announcement

The chipmaker is scheduled to unveil its first-quarter 2026 financial performance following Thursday’s market close on April 23. Shares have experienced a remarkable rally throughout the year, climbing over 78% since January and briefly touching $70.32—a level not seen in 25 years.

Intel Corporation, INTC

Analyst consensus points to quarterly earnings of $0.02 per share for the period, marking an approximate 90% increase compared to the year-ago quarter. Sales are projected to reach $12.42 billion, representing a modest 2.2% decline on a year-over-year basis.

When Intel last reported in January, the company exceeded expectations by posting $0.15 per share versus the Street’s $0.08 estimate. Sales totaled $13.67 billion, surpassing the anticipated $13.37 billion.

Market participants will closely monitor commentary regarding Intel’s 18A manufacturing node advancement and the company’s participation in Elon Musk’s Terafab artificial intelligence chip initiative. Management guidance on operational efficiency improvements and future AI semiconductor development will attract significant attention.

RBC Capital’s Srini Pajjuri maintained a Neutral position with a $48 valuation target. His analysis suggests a slight upside surprise is probable, supported by healthy server processor demand, though he highlighted wafer supply limitations as a headwind.

Pajjuri further observed that Intel’s present stock price already incorporates substantial optimism surrounding its foundry operations and Terafab collaboration. He emphasized that meaningful revenue contributions from the 14A node and advanced packaging capabilities may require additional time to materialize.

Raymond James analyst Simon Leopold confirmed his Market Perform stance after revising his financial models upward. His assessment referenced Intel’s repurchase of its remaining interest in Fab 34 and changing product mix dynamics based on Asian supply chain intelligence.

These supply chain indicators revealed softening personal computer demand, though accelerating data center and artificial intelligence adoption trends are providing balance. Leopold identified possible additional gains from initiatives connected to Musk’s business ventures.

Wall Street Price Target Breakdown

Stifel Nicolaus increased its valuation from $42 to $65 while retaining a Hold recommendation. This target suggests approximately 5% potential downside from present trading levels.

Susquehanna boosted its objective to $65 from $45 with a Neutral view. Melius Research established a $75 projection. Tigress Financial reaffirmed a Buy recommendation with a $66 target.

The overall Street consensus stands at Hold, comprising six Buy ratings, 27 Hold ratings, and six Sell ratings. The mean price objective of $52.51 remains substantially below current share prices.

Implied Volatility Signals Significant Post-Earnings Swing

Shares began Monday’s session at $68.50, within a 52-week trading band spanning $18.25 to $70.32. The company’s market capitalization stands at $342.16 billion.

Regarding insider activity, EVP Boise April Miller divested 20,000 shares in early February at $49.05 apiece. EVP David Zinsner acquired 5,882 shares in late January at $42.50 per share.

Looking at full-year fiscal projections, the analyst community currently forecasts a loss of $0.11 per share for Intel.

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