Intel (NASDAQ: INTC) ended the first half of 2026 up approximately 270%, closing June at $139.63, before experiencing a 9% drop to $127.02 on July 19 due to a broader sell-off in chip stocks. This decline continued, with shares falling an additional 5% to $120.35 on July 20. Intel’s stock surge earlier in the year was bolstered by a preliminary agreement to manufacture chips for Apple and significant investments from the U.S. government and Nvidia, boosting the company’s foundry segment revenue by 16% year-over-year to $5.4 billion in Q1.
Despite a strong start to the year, Intel’s financials show a loss of $0.73 per share in Q1, with external foundry revenue at just $174 million. As Intel prepares to report second-quarter results on July 23, expectations are high for signs of growth, particularly in converting preliminary customer interest into formal commitments. Investors should watch for progress in foundry margins and revenue, as the company currently holds a market capitalization of around $638 billion amid its ongoing transition back to manufacturing credibility.
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