Intel stock hit a 25-year high as shares of the chipmaker surged on strong earnings, advanced manufacturing milestones, and a major deal with Apple, marking a remarkable turnaround for a company that had lagged rivals for years.
On April 23, 2026, Intel reported first-quarter revenue of $13.6 billion, beating analyst expectations of $12.36 billion, with adjusted earnings per share of $0.29 compared to estimates of just $0.01 to $0.02, according to Quartz and Yahoo Finance. The earnings beat triggered a 24% single-day surge in Intel stock, marking its biggest one-day gain in nearly four decades, according to TIKR.com.
The rally extended through the spring and into June. Intel shares jumped 114% in April alone, lifting the chipmaker’s market cap past $470 billion and marking the best month in Intel’s 55-year history, CNBC reported on April 30, 2026. By May 23, 2026, shares had climbed roughly 225% for the year, according to The Motley Fool.
Manufacturing Momentum and Customer Wins
Intel’s turnaround centers on its 18A manufacturing process, a critical technology that underpins its foundry ambitions. On June 16, 2026, Intel announced that its 18A-P chip process had entered risk production, with enhanced thermal characteristics and higher performance than the original 18A, according to Reuters and Intel’s newsroom. The milestone signals progress toward full-scale manufacturing as AI-driven demand for advanced chips intensifies.
The company also secured a major customer win. In May 2026, the Wall Street Journal reported that Apple and Intel had reached a preliminary agreement for Intel to manufacture some chips for Apple devices. President Trump later announced the deal publicly on June 18, 2026, saying Apple had agreed to work with Intel to design and build chips in America, according to Bloomberg and CNBC. Intel shares surged 9% in premarket trading and climbed an additional 10% that day following Trump’s announcement.
Reuters noted on June 24, 2026, that while the deal makes strategic sense, advanced Intel chips can take 2-3 years to produce, meaning significant revenue from the Apple partnership remains years away.
Broader Semiconductor Rally
Intel’s gains reflect a broader resurgence in semiconductor stocks fueled by AI infrastructure demand. Micron’s strong earnings in June 2026 triggered a wider chip rally, lifting stocks like Qualcomm and smaller foundry players. Intel, as a foundry player with manufacturing capacity and advanced process technology, stood to benefit directly from hyperscaler demand for custom AI chips.
The stock’s performance this year represents a dramatic shift for Intel, which had underperformed NVIDIA and TSMC for years. Shares had closed at $131.65 on June 24, 2026, according to Macrotrends, approaching levels not seen since August 2000, when Intel’s stock peaked at $74.88 before a two-decade decline.
Sources
- Quartz — Intel Q1 2026 earnings beat on data center, AI demand
- Yahoo Finance — Intel stock soars on Q1 earnings beat, strong outlook
- TIKR.com — Intel Stock Rose 24% After Q1 2026 Earnings
- CNBC — Intel’s stock more than doubles in April for best month ever
- The Motley Fool — Intel Has Soared 225% in 2026
- Reuters — Intel’s new manufacturing tech enters initial production; Apple-Intel chip deal makes strategic sense
- Intel Newsroom — Intel Foundry Details Process Milestones
- Wall Street Journal — Apple, Intel Have Reached Preliminary Chip-Making Agreement
- Bloomberg — Intel Shares Soar After Trump Says It Struck Apple Chip Deal
- Macrotrends — Intel – 42 Year Stock Price History
