What's Going On With Intel Stock Monday?
Intel Corp. (NASDAQ:INTC) stock edged higher Monday as technology stocks outperformed the broader market. The Nasdaq gained about 0.5%, while the S&P 500 slipped 0.1%.
Intel’s longer-term trend remains positive after a strong 12-month run. However, the near-term picture is less clear as the stock trades around several key moving averages.
Bank of America also remains bullish on Intel’s foundry turnaround following the company’s roughly $20 billion equity raise. Analyst Vivek Arya said the offering signals greater management confidence in internal demand and external foundry customer engagement, despite near-term earnings dilution.
The firm estimates Intel could eventually capture 8% to 10% of a roughly $380 billion wafer foundry market by 2030. It projects Intel Foundry revenue could climb from about $1.1 billion in 2026 to nearly $40 billion by 2030.
Technical Analysis
Intel is trading 6.5% above its 20-day simple moving average of $97.14 and 5% above its 100-day SMA of $98.48. However, shares remain 5.3% below the 50-day SMA of $109.23.
That setup points to a rebound that has yet to reclaim a key intermediate-term trend level.
The moving averages also send mixed signals. The 20-day SMA remains below the 50-day SMA, indicating near-term weakness. However, the 50-day SMA remains above the 200-day SMA, supporting the longer-term bullish trend.
Meanwhile, Intel’s relative strength index stands at 52.47. The neutral reading suggests the stock is neither overbought nor oversold.
Support sits near $89.50, a level where buyers previously stepped in.
Analyst Outlook
Intel carries a Hold consensus rating with an average price forecast of $110.56.
UBS maintained a Neutral rating and lowered its price forecast to $112 on Aug. 12. Bank of America maintained its Buy rating on Intel but lowered its price forecast to $145 from $160 on Aug. 11. Baird raised its price forecast to $125 and maintained a Neutral rating on July 27.
Benzinga Edge Rankings
Intel has a Momentum score of 98.61 on the Benzinga Edge scorecard. The reading points to strong relative price performance compared with the broader market.
However, the momentum-heavy profile also puts greater focus on whether Intel can maintain its recent trend.
Top ETF Exposure
Intel has notable exposure through several technology and semiconductor ETFs. The stock accounts for 5.53% of the iShares Semiconductor ETF (NASDAQ:SOXX), 5.12% of the iShares MSCI USA Momentum Factor ETF (BATS:MTUM) and 5.86% of the State Street SPDR NYSE Technology ETF (NYSE:XNTK).
As a result, large inflows or outflows from these funds can contribute to buying or selling pressure in Intel shares.
Price Action
INTC Price Action: Intel shares were up 0.38% at $102.89 at the time of publication Monday, according to Benzinga Pro data.