Wall Street just delivered another vote of confidence for Intel (INTC) ahead of one of the company's biggest catalysts of the year. Susquehanna recently raised its price target on INTC stock to $115 from $80 while maintaining a "Hold" rating, arguing that second-quarter results are shaping up better than previously expected. The firm's channel checks point to stronger server CPU demand and healthier PC builds than anticipated, giving investors fresh optimism just days before Intel reports earnings on July 23.
The upgrade comes after a volatile stretch for the semiconductor giant. Intel shares have pulled back sharply from their June highs as investors have locked in profits across AI-related chip stocks.
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The big question now is whether the recent weakness offers a buying opportunity, or whether expectations remain too high heading into earnings.
Intel has been one of the semiconductor sector's biggest winners this year despite its recent correction. INTC stock has surged roughly 185% year-to-date (YTD). After soaring during the first half of 2026, Intel hit a 52-week high of $142.35 in June before running into heavy profit-taking.
Shares have since dropped about 21% over the past month and now trade roughly 25% below their peak as investors have rotated out of high-flying AI names amid a broader semiconductor selloff.
Susquehanna believes Q2 demand has held up better than expected, particularly in Intel's server CPU business, which continues benefiting from growing interest in agentic AI workloads. However, the firm also warned that memory market weakness could weigh on PC demand during the second half of the year, prompting Intel to prioritize its limited wafer capacity toward higher-margin server processors.
Intel is scheduled to report Q2 results after the market closes on July 23. Wall Street expects earnings of $0.22 per share on revenue of approximately $14.45 billion, largely in-line with management's prior guidance of $13.8 billion to $14.8 billion in revenue and non-GAAP earnings of $0.20 per share.
Source: Yahoo Finance Top News — This article was automatically imported from the source. Read full article at original source →
