Intel rallies 25% as markets climb

Intel shares surged 24% on Friday, April 24, after the chipmaker beat Wall Street’s first-quarter estimates and gave a stronger-than-expected sales outlook. (cnbc.com) (intel.com) Intel reported first-quarter revenue of $13.6 billion, up 7% from a year earlier, and adjusted earnings of 29 cents a share, versus analyst expectations of about 1 cent. (intel.com) (cnbc.com) The company said second-quarter revenue should come in between $13.8 billion and $14.8 billion, ahead of analyst estimates near $13.1 billion, with adjusted earnings of 20 cents a share. (intel.com) (cnbc.com) The strongest growth came from Intel’s data center business, where revenue rose 22% to $5.1 billion as customers bought more central processing units for artificial intelligence workloads. (cnbc.com) (usnews.com) Chief Financial Officer David Zinsner said tight supply pushed Intel to sell some older or lower-spec chips it had previously shelved, helping first-quarter results. (usnews.com) The stock closed at $82.57 on April 24, its best day since 1987, and CNBC reported the gain pushed Intel up 124% for 2026 after an 84% rise in 2025. (cnbc.com) The move came as the broader market was already climbing. FactSet said 84% of S&P 500 companies that had reported first-quarter results by April 24 beat earnings estimates, above both the five-year and 10-year averages. (factset.com) Reuters reported at least 23 brokerages raised their Intel price targets after the results, with the median target climbing to $75 from $46.50 a month earlier. (usnews.com) Intel is still losing money under standard accounting. The company reported a first-quarter net loss attributable to Intel of $3.7 billion, or 73 cents a share, even as adjusted profit improved. (intel.com) (cnbc.com) For investors, the bet is that Intel’s recovery under Chief Executive Lip-Bu Tan can keep turning stronger CPU demand into sustained growth after years of missed shifts in artificial intelligence. (cnbc.com) (usnews.com)