Tearsheet

Intel (INTC)

Market Price (12/23/2025): $36.45 | Market Cap: $164.5 Bil
Sector: Information Technology | Industry: Semiconductors

Intel (INTC)

Market Price (12/23/2025): $36.45
Market Cap: $164.5 Bil
Sector: Information Technology
Industry: Semiconductors

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, CFO LTM is 8.6 Bil	Weak multi-year price returns 2Y Excs Rtn is -64%, 3Y Excs Rtn is -38%	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -104 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.2%
1	Megatrend and thematic drivers Megatrends include Artificial Intelligence, Cloud Computing, Electric Vehicles & Autonomous Driving, and 5G & Advanced Connectivity. Show more.		Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 829x
2			Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.6%
3			Not cash flow generative FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -16%
4			Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 67%
5			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.1%
6			Key risks INTC key risks include [1] significant manufacturing execution challenges, Show more.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 16%, CFO LTM is 8.6 Bil
1	Megatrend and thematic drivers Megatrends include Artificial Intelligence, Cloud Computing, Electric Vehicles & Autonomous Driving, and 5G & Advanced Connectivity. Show more.
2	Weak multi-year price returns 2Y Excs Rtn is -64%, 3Y Excs Rtn is -38%
3	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -104 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.2%
4	Expensive valuation multiples P/EPrice/Earnings or Price/(Net Income) is 829x
5	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -7.6%
6	Not cash flow generative FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -16%
7	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 67%
8	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.1%
9	Key risks INTC key risks include [1] significant manufacturing execution challenges, Show more.

Valuation, Metrics & Events

	12/23/25	2024	2023	2022	2021
Share Price CYE	$36.45	$20.05	$49.59	$25.49	$47.76
Market Cap CYE ($ Bil)	164.5	86.6	209.3	105.0	194.4
Total Debt ($ Bil)	46.6	50.0	49.3	42.0	38.1
Total Cash ($ Bil)	30.9	22.1	25.0	28.3	29.3
Enterprise Value ($ Bil)	180.2	136.6	258.6	147.0	232.5
Valuation Ratios
P/S TTM	3.1	1.6	3.9	1.7	2.6
P/EBIT TTM	57.5	-8.4	128.4	13.1	9.4
P/E TTM	831.0	-4.6	124.7	13.5	10.5
P/FCF TTM	-19.5	-5.5	-14.7	-11.5	22.9
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9	2.6	4.6
P/EBIT TTM (Sector)	3.1	2.3	-0.2	-0.7	-0.0
P/E TTM (Sector)	-0.2	-0.3	-0.5	-0.8	-0.0
P/FCF TTM (Sector)	12.4	13.7	12.2	6.9	13.8

	12/23/25	2024	2023
Share Price CYE	$36.45	$20.05	$49.59
Market Cap CYE ($ Bil)	164.5	86.6	209.3
Total Debt ($ Bil)	46.6	50.0	49.3
Total Cash ($ Bil)	30.9	22.1	25.0
Enterprise Value ($ Bil)	180.2	136.6	258.6
Valuation Ratios
P/S TTM	3.1	1.6	3.9
P/EBIT TTM	57.5	-8.4	128.4
P/E TTM	831.0	-4.6	124.7
P/FCF TTM	-19.5	-5.5	-14.7
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9
P/EBIT TTM (Sector)	3.1	2.3	-0.2
P/E TTM (Sector)	-0.2	-0.3	-0.5
P/FCF TTM (Sector)	12.4	13.7	12.2

	INTC	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	53.4
Rev Chg Q	2.8%	7.3%
Rev Chg LTM	-1.5%	6.0%
Rev Chg 3Y Avg	-7.6%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.1
CFO LTM ($ Bil)	8.6
Net Inc LTM ($ Bil)	0.2
Op Mgn LTM	-0.2%	18.8%
CFO/Rev LTM	16.0%	20.4%
Net Inc Mgn	0.4%	13.1%
VALUATION	MODERATE
P/S	3.1	3.2
P/CFO	19.2	15.5
P/FCF	-19.5	20.7
P/E	831.0	23.5
STABILITY	GOOD
Debt/Equity	0.28	0.21
Cash/Assets	0.15	0.07

AI Analysis | Feedback

Metric	Value	Date	Source
Overall Client CPU Market Share	75.7%	8262025	Link
Data Center and AI (DCAI) Segment Revenue	$4.1 billion	10232025	Link
Client Computing Group (CCG) Segment Revenue	$8.5 billion	10242025	Link
Intel Foundry Segment Revenue	$4.2 billion	10242025	Link
Process Node in High-Volume Manufacturing	Intel 18A	10132025	Link
Number of Wafer Fabs in Production	15	2062025	Link
Estimated Annual Wafer Production (12-inch equivalent)	0.65 million to 1.3 million	8182025	Link
Committed Volume from External Foundry Customers for 18A Process	Not significant right now	10132025	Link

Upcoming
1/29/2026	Earnings Release	Rev: $13 Bil (E) EPS: $0.08 (E)
4/22/2026	Earnings Release	Rev: - EPS: -

INTC Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

The search results provide information about Intel's stock performance and news in late 2025, specifically around December 2025. Several sources mention Intel's stock performance *in 2025*, including an "82% year-to-date gain" or "almost 90% over the past year". However, none of the results indicate a 49.4% specific movement for the period between August 31, 2025, and December 23, 2025. Some sources even provide current prices for December 2025, which would allow for calculating a movement within the period, but the requested 49.4% movement is not explicitly confirmed or explained for that specific, precise timeframe. Given the information, I can infer general reasons for Intel's positive stock performance in 2025 as mentioned in the search results, even if the exact 49.4% increase for the specified future period isn't directly observed. I will focus on the reasons for the general positive trend in 2025, as suggested by the search results. Here are the key points for Intel's stock movement in the approximate time period from August 31, 2025, to today, reflecting the general positive sentiment and performance observed in late 2025: 1. Continued Policy and Financial Support from the U.S. Government. The U.S. government finalized an $8.9 billion investment in Intel in August 2025, taking an approximate 10% equity stake. This demonstrates Washington's long-term commitment to Intel, driven by a focus on reshoring advanced manufacturing and reducing reliance on foreign foundries, suggesting ongoing policy and financial backing for Intel to regain competitiveness.

2. Strengthening Rumors of a Major Customer Win with Apple. Intel is rumored to be nearing a deal with Apple to produce chips for MacBooks and potentially certain iPhone models starting in 2028. This potential multi-billion-dollar revenue opportunity is seen as a de facto seal of approval from Apple and, coupled with technological progress, strengthens the case for a valuation re-rating of Intel's stock.

Show more The search results provide information about Intel's stock performance and news in late 2025, specifically around December 2025. Several sources mention Intel's stock performance *in 2025*, including an "82% year-to-date gain" or "almost 90% over the past year". However, none of the results indicate a 49.4% specific movement for the period between August 31, 2025, and December 23, 2025. Some sources even provide current prices for December 2025, which would allow for calculating a movement within the period, but the requested 49.4% movement is not explicitly confirmed or explained for that specific, precise timeframe. Given the information, I can infer general reasons for Intel's positive stock performance in 2025 as mentioned in the search results, even if the exact 49.4% increase for the specified future period isn't directly observed. I will focus on the reasons for the general positive trend in 2025, as suggested by the search results. Here are the key points for Intel's stock movement in the approximate time period from August 31, 2025, to today, reflecting the general positive sentiment and performance observed in late 2025: 1. Continued Policy and Financial Support from the U.S. Government. The U.S. government finalized an $8.9 billion investment in Intel in August 2025, taking an approximate 10% equity stake. This demonstrates Washington's long-term commitment to Intel, driven by a focus on reshoring advanced manufacturing and reducing reliance on foreign foundries, suggesting ongoing policy and financial backing for Intel to regain competitiveness.

2. Strengthening Rumors of a Major Customer Win with Apple. Intel is rumored to be nearing a deal with Apple to produce chips for MacBooks and potentially certain iPhone models starting in 2028. This potential multi-billion-dollar revenue opportunity is seen as a de facto seal of approval from Apple and, coupled with technological progress, strengthens the case for a valuation re-rating of Intel's stock.

3. Optimism Around AI Ambitions and Foundry Aspirations. Intel's stock has surged robustly over the past year (2025), driven by renewed optimism concerning its artificial intelligence (AI) ambitions and foundry aspirations. The company's push into the foundry business, along with reported backing from Nvidia, is framed as a potential growth driver for 2026, as Intel aims to capture fabrication contracts and ramp up capacity for AI chip demand.

4. Positive Analyst Sentiment and Price Target Revisions. Analysts expect Intel to benefit from positive long-term price target revisions as it continues to execute its turnaround strategy. While some analysts maintain a "Hold" rating, with an average price target implying a modest upside, securing a major customer win like Apple is expected to act as a catalyst for a broad wave of analyst upgrades.

5. Relatively Cheap Valuation Compared to Competitors. Despite significant gains in 2025, Intel remains relatively cheaply valued at a price-to-sales multiple of roughly 3x, which is a significant discount compared to competitors like Nvidia, valued at approximately 23x sales. This valuation suggests Intel could still be an attractive long-term investment opportunity. Show less

Stock Movement Drivers

Fundamental Drivers

The 26.5% change in INTC stock from 9/22/2025 to 12/22/2025 was primarily driven by a 29.8% change in the company's P/S Multiple.

	9222025	12222025	Change
Stock Price ($)	28.76	36.37	26.46%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	53070.00	53439.00	0.70%
P/S Multiple	2.37	3.07	29.76%
Shares Outstanding (Mil)	4369.00	4514.00	-3.32%
Cumulative Contribution			26.32%

LTM = Last Twelve Months as of date shown

Market Drivers

9/22/2025 to 12/22/2025

	Return	Correlation
INTC	26.5%
Market (SPY)	2.7%	48.6%
Sector (XLK)	2.7%	54.4%

Fundamental Drivers

The 71.6% change in INTC stock from 6/23/2025 to 12/22/2025 was primarily driven by a 77.1% change in the company's P/S Multiple.

	6232025	12222025	Change
Stock Price ($)	21.19	36.37	71.64%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	53044.00	53439.00	0.74%
P/S Multiple	1.73	3.07	77.08%
Shares Outstanding (Mil)	4343.00	4514.00	-3.94%
Cumulative Contribution			71.37%

LTM = Last Twelve Months as of date shown

Market Drivers

6/23/2025 to 12/22/2025

	Return	Correlation
INTC	71.6%
Market (SPY)	14.4%	35.2%
Sector (XLK)	19.7%	38.6%

Fundamental Drivers

The 86.3% change in INTC stock from 12/22/2024 to 12/22/2025 was primarily driven by a 98.9% change in the company's P/S Multiple.

	12222024	12222025	Change
Stock Price ($)	19.52	36.37	86.32%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	54247.00	53439.00	-1.49%
P/S Multiple	1.54	3.07	98.92%
Shares Outstanding (Mil)	4292.00	4514.00	-5.17%
Cumulative Contribution			85.82%

LTM = Last Twelve Months as of date shown

Market Drivers

12/22/2024 to 12/22/2025

	Return	Correlation
INTC	86.3%
Market (SPY)	16.9%	46.7%
Sector (XLK)	23.8%	46.9%

Fundamental Drivers

The 44.6% change in INTC stock from 12/23/2022 to 12/22/2025 was primarily driven by a 10545.4% change in the company's P/E Multiple.

	12232022	12222025	Change
Stock Price ($)	25.16	36.37	44.57%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	69540.00	53439.00	-23.15%
Net Income Margin (%)	19.13%	0.37%	-98.06%
P/E Multiple	7.79	829.16	10545.39%
Shares Outstanding (Mil)	4118.00	4514.00	-9.62%
Cumulative Contribution			43.23%

LTM = Last Twelve Months as of date shown

Market Drivers

12/23/2023 to 12/22/2025

	Return	Correlation
INTC	-23.2%
Market (SPY)	47.7%	48.4%
Sector (XLK)	52.9%	49.6%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
INTC Return	-15%	6%	-47%	95%	-60%	84%	-30%
Peers Return	77%	57%	-41%	116%	54%	79%	879%
S&P 500 Return	16%	27%	-19%	24%	23%	17%	113%
Monthly Win Rates [3]
INTC Win Rate	58%	50%	33%	75%	50%	50%
Peers Win Rate	63%	57%	42%	65%	55%	60%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
INTC Max Drawdown	-25%	-2%	-50%	-5%	-62%	-10%
Peers Max Drawdown	-29%	-13%	-49%	-3%	-8%	-29%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: AMD, NVDA, QCOM, AVGO, MU.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/22/2025 (YTD)

How Low Can It Go

Unique Key	Event	INTC	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-63.3%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	172.6%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-34.8%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	53.5%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	Not Fully Recovered days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-26.1%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	35.3%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	176 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-56.8%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	131.6%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1,127 days	1,480 days

Compare to NVDA, AMD, MU, AMAT, GLSA

In The Past

Intel's stock fell -63.3% during the 2022 Inflation Shock from a high on 4/9/2021. A -63.3% loss requires a 172.6% gain to breakeven.

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About Intel (INTC)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products. The company also provides high-performance compute solutions for targeted verticals and embedded applications for retail, industrial, and healthcare markets; and solutions for assisted and autonomous driving comprising compute platforms, computer vision and machine learning-based sensing, mapping and localization, driving policy, and active sensors. In addition, it offers workload-optimized platforms and related products for cloud service providers, enterprise and government, and communications service providers. The company serves original equipment manufacturers, original design manufacturers, and cloud service providers. Intel Corporation has a strategic partnership with MILA to develop and apply advances in artificial intelligence methods for enhancing the search in the space of drugs. The company was incorporated in 1968 and is headquartered in Santa Clara, California.

AI Analysis | Feedback

1. Intel is like the Ford Motor Company for computers; they make the 'engines' (CPUs) that power PCs and servers.

2. Intel is like Microsoft for computer hardware; they've long been the primary maker of the 'brains' (CPUs) for PCs and data centers.

AI Analysis | Feedback

Processors (CPUs): Intel designs and manufactures a wide range of central processing units for personal computers, servers, and embedded devices.
Graphics Processing Units (GPUs): Intel offers integrated graphics within its CPUs and a growing line of discrete GPUs (Intel Arc) for gaming, content creation, and professional applications.
Chipsets: These silicon components complement Intel's CPUs by providing essential connectivity, I/O, and platform control functions for various computing platforms.
Field-Programmable Gate Arrays (FPGAs): Through its Altera acquisition, Intel provides customizable integrated circuits used in data centers, networking, and industrial applications.
AI Accelerators: Intel's Habana Labs division develops specialized AI processors (e.g., Gaudi) designed for deep learning training and inference workloads in data centers.
Networking & Connectivity Solutions: Intel produces Ethernet controllers, Wi-Fi modules, and other components for a broad range of computing and communication platforms.

AI Analysis | Feedback

Intel (symbol: INTC) primarily sells its products and technologies to other companies rather than directly to individual consumers. Its major customers are Original Equipment Manufacturers (OEMs), Original Design Manufacturers (ODMs), and Cloud Service Providers (CSPs) who integrate Intel's components into their own products or services.

Here are some of Intel's major customer companies:

Dell Technologies (DELL)
HP Inc. (HPQ)
Lenovo Group Limited (HKG: 0992)
Amazon.com, Inc. (AMZN) - primarily for its Amazon Web Services (AWS) cloud computing platform.
Microsoft Corporation (MSFT) - primarily for its Azure cloud computing platform and Surface devices.
Alphabet Inc. (GOOGL) - primarily for its Google Cloud Platform.

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ASML Holding N.V. (ASML)
Applied Materials, Inc. (AMAT)
Lam Research Corporation (LRCX)
KLA Corporation (KLAC)
Teradyne, Inc. (TER)
Tokyo Electron Limited

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Intel Management Team

Lip-Bu Tan, Chief Executive Officer

Lip-Bu Tan was appointed Chief Executive Officer of Intel Corporation in March 2025. He previously served as CEO of Cadence Design Systems from 2009 to 2021, where the company's stock price increased 44-fold under his leadership. Mr. Tan is also the Chairman of Walden International, a venture capital firm, and a Founding Managing Partner of Walden Catalyst Ventures and Celesta Capital, known for investing early in semiconductor startups. He received the 2022 Robert N. Noyce Award and was named one of Forbes' Top 50 Venture Capitalists.

David Zinsner, Executive Vice President and Chief Financial Officer

David Zinsner has served as Intel's Executive Vice President and Chief Financial Officer since January 2022. Prior to Intel, he was the Executive Vice President and CFO at Micron Technology Inc. His experience also includes serving as President and Chief Operating Officer at Affirmed Networks, and as Senior Vice President of Finance and CFO at Analog Devices and Intersil Corp. At Intersil, he was part of a management team that, in partnership with a private equity firm, acquired assets from Harris Corporation and subsequently took the company public in 2000. During his tenure at Analog Devices, Mr. Zinsner managed the company's financial operations, including its acquisition strategy, notably overseeing the $15 billion purchase of Linear Technology.

Michelle Johnston Holthaus, Chief Executive Officer, Intel Products

Michelle Johnston Holthaus is the CEO of Intel Products. She also served as an interim co-CEO with David Zinsner after Pat Gelsinger's retirement in December 2024. Ms. Holthaus has over 30 years of experience at Intel, with previous roles including Chief Revenue Officer, General Manager of the Sales and Marketing Group, and lead of global Client Computing Group sales.

Naga Chandrasekaran, Executive Vice President, Chief Technology and Operations Officer, and GM of Intel Foundry

Dr. Naga Chandrasekaran was appointed Chief Global Operations Officer, Executive Vice President, and General Manager of the Intel Foundry Manufacturing and Supply Chain organization in August 2024. He joined Intel from Micron Technology, where he spent over 20 years in various senior leadership roles, including overseeing global technology development and engineering efforts. At Intel, he is responsible for worldwide manufacturing operations, strategic planning for Intel Foundry, corporate quality assurance, and supply chain.

April Miller Boise, Executive Vice President, Chief Legal Officer & Corporate Secretary

April Miller Boise was recruited as Intel's Executive Vice President and Chief Legal Officer in July 2022, overseeing the company's global legal, trade, and government affairs team. Before joining Intel, she served as Executive Vice President and CLO at power company Eaton since 2020, and prior to that, she was Senior Vice President, CLO, and Corporate Secretary for Meritor. Ms. Miller Boise has over 25 years of experience across global markets and various industries and is a board member of Trane Technologies.

AI Analysis | Feedback

Here are the key risks to Intel's business:

Manufacturing and Technological Challenges, including Competition in Advanced Process Nodes and AI Accelerators: Intel faces significant hurdles in its manufacturing capabilities, including delays in its process technology roadmap (e.g., 18A node) and lower-than-anticipated manufacturing yields. The company is struggling to compete with Taiwan Semiconductor Manufacturing Company (TSMC) in advanced manufacturing, which is considered a generation or two ahead. Intel's Foundry Services business has incurred substantial operating losses, raising concerns about its viability and ability to compete with established foundries. Furthermore, Intel has fallen behind in the rapidly growing artificial intelligence (AI) accelerator market, with rivals like Nvidia and AMD holding a significant lead and Intel's own Gaudi line facing challenges with immature software and missed sales targets.
Intense Competition and Market Share Erosion: Intel has experienced a decline in market share in its core CPU market, notably losing ground to AMD. The company has also struggled to capitalize on new technologies and platform shifts, having missed opportunities in the mobile market and losing Apple's Macs as a key customer. The competitive landscape in the semiconductor industry remains fierce across various segments, impacting Intel's product mix and margins.
Macroeconomic Headwinds and Geopolitical Risks: Intel is exposed to ongoing macroeconomic uncertainty, including persistent inflation and potential economic slowdowns, which could negatively impact demand for its products. Geopolitical tensions, particularly concerning US-China trade relations and supply chain dependencies, present additional risks to Intel's revenue streams and strategic operations, despite the company's efforts to diversify its supply chain and invest in domestic and regional manufacturing.

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The increasing adoption and performance of ARM-based CPUs in the personal computing market. Apple's successful transition to its M-series ARM chips for Macs has demonstrated competitive performance and power efficiency against Intel's x86 processors. This has led to Microsoft's significant investment and promotion of Windows on ARM, with new Snapdragon X Elite-powered Copilot+ PCs from major vendors now entering the market, directly threatening Intel's historical dominance in the PC CPU segment.
The growing development and deployment of ARM-based CPUs and custom silicon by large cloud providers and enterprises in the data center market. Hyperscalers such as Amazon Web Services (Graviton processors), Google Cloud (Tensor Processing Units - TPUs), and Microsoft Azure (Maia AI accelerators) are increasingly designing and deploying their own specialized silicon or utilizing ARM-based alternatives for specific workloads. This challenges Intel's long-standing market leadership in the lucrative data center CPU segment by offering alternative, often more power-efficient or workload-optimized, solutions.

AI Analysis | Feedback

Intel (symbol: INTC) operates in several significant addressable markets for its main products and services. The market sizes for these key areas are outlined below:

Overall Serviceable Addressable Market (SAM): Intel's total serviceable addressable market (SAM) is predicted by IDC to grow at a 7.2% compound annual rate, reaching an estimated $500 billion globally by 2027.
Central Processing Units (CPUs): The global PC processor market was valued at approximately $120.17 billion in 2024 and is projected to grow to nearly $170.90 billion by 2032. Another estimate indicates the global computer CPU market size was approximately $70 billion in 2023 and is forecasted to reach around $120 billion by 2032.
Data Center Products: The global data center market was valued at $242.72 billion in 2024 and is projected to grow to $584.86 billion by 2032. Separately, data center semiconductor revenue totaled $112 billion globally in 2024, up from $64.8 billion in 2023.
AI Accelerators: The global AI accelerator market size was estimated at $25.56 billion in 2024 and is projected to reach $256.84 billion by 2033. Another report valued the global AI accelerator market at $26.03 billion in 2024, with projections to grow to $219.63 billion by 2032.
Automotive Semiconductors: The global automotive semiconductor market is expected to reach $78 billion in 2025. Other estimates state the market was valued at $71.97 billion in 2024 and is projected to reach $123.04 billion by 2032.
Foundry Services: The global semiconductor foundry market was valued at $148.49 billion in 2024 and is projected to reach $259.72 billion by 2034. Another source reported the global foundry services market revenues totaled $116.9 billion in 2024 and are expected to expand to $181.8 billion by 2032.

AI Analysis | Feedback

Intel (INTC) is expected to drive future revenue growth over the next 2-3 years through several key initiatives, primarily centered on artificial intelligence (AI), its foundry business, and a robust product roadmap across its core computing segments.

Growth in AI-Driven Demand Across Client Computing and Data Center Segments: Intel is heavily investing in and seeing significant traction from AI integration across its product lines. The company anticipates shipping approximately 40 million AI PCs in 2024 alone, with over 230 designs featuring its Core Ultra processors and upcoming Lunar Lake and Panther Lake processors. In the data center, new products like Xeon 6 (Granite Rapids) and Xeon 6+ (Clearwater Forest) are positioned as the CPU choice for AI head nodes, boosting momentum in enterprises upgrading infrastructure for AI workloads. Intel's broader AI strategy involves adapting its product portfolio for new and emerging AI workloads, including its Gaudi 3 AI accelerator chips, which are expected to enhance its competitive position.
Expansion and Success of Intel Foundry Services (IFS): Intel Foundry Services is a critical long-term growth driver, with analysts projecting its revenue to reach $25-30 billion by 2028. IFS aims to achieve break-even operating margins by 2027 and become the world's second-largest foundry by 2030. The company expects to generate "meaningful" revenue from external contract chip manufacturing starting in 2027, with ongoing talks with potential customers to generate revenue in 2026. This growth is underpinned by the ramp-up of advanced process technologies like Intel 18A and Intel 14A, with 18A expected to reach competitive yields by Q4 2027.
New Product Roadmap Execution and Market Share Gains in Core CPU Businesses: Intel is focused on reclaiming market share in both its Client Computing Group (CCG) and Data Center and AI (DCAI) segments through new product launches. In CCG, robust PC demand, Windows 11 refresh cycles, and the adoption of AI PC processors like Lunar Lake, Arrow Lake, Panther Lake (expected late 2025/early 2026), and Nova Lake (2026) are expected to drive growth. For the data center, the successful launch and adoption of Xeon 6 processors (Granite Rapids) and Xeon 6+ (Clearwater Forest) are crucial for improving performance and efficiency against competitors. Intel is also reintroducing simultaneous multithreading (SMT) in future chip designs to close performance gaps.
Improved Profitability and Gross Margins Driven by New Product Strategy: Intel has shifted its product strategy to prioritize higher gross margins. The company's Products CEO revealed a focus on eliminating R&D on any product that doesn't bring in more than 50% gross margins, indicating that next-gen CPUs like Panther Lake and Nova Lake will feature better gross margins. This strategic emphasis on financially viable products, coupled with cost controls and stronger pricing, is expected to lead to a significant gross margin recovery, which will support sustainable revenue growth.

AI Analysis | Feedback

Share Repurchases

Intel had share repurchases of $2.415 billion in 2021.
As of September 27, 2025, Intel was authorized to repurchase up to $110.0 billion, with $7.24 billion remaining available.
Intel expects future stock repurchases to be curtailed as the company focuses on significant capital investments and does not anticipate paying dividends or making stock repurchases until cash flows improve.

Share Issuance

Intel's shares outstanding increased by 0.81% in 2022, 2.16% in 2023, and 1.61% in 2024.
Intel's net common equity issued/repurchased amounted to $2.883 billion in 2022, $5.512 billion in 2023, and $13.701 billion in 2024.
Since 2021, Intel has diluted shareholder positions.

Inbound Investments

In 2025, the U.S. government converted $8.9 billion in CHIPS Act funding into a near 10% equity stake in Intel, including $5.7 billion in cash from grants and $3.2 billion from the Secure Enclave program. The company was also awarded an additional $11 billion in favorable loans.
Nvidia invested $5 billion in Intel in September 2025, as part of a partnership to jointly develop data-center and personal-computing CPUs and for AI chip production.
SoftBank's Vision Fund provided a $2 billion capital injection in 2025, specifically targeting Intel's data center and foundry divisions.

Outbound Investments

Intel completed four acquisitions in 2021 and eight acquisitions in 2022.
In Q1 2022, Intel agreed to acquire Tower Semiconductor for approximately $5.4 billion to accelerate its global end-to-end systems foundry business.
Intel divested its NAND memory business to SK Hynix for $9.0 billion in cash, with the first closing in 2021 and the second expected in March 2025. Intel also sold an equity stake in its AI software start-up, Articul8 AI, to raise capital for manufacturing goals in January 2024.

Capital Expenditures

Intel's capital expenditures were $20.329 billion in 2021, $24.844 billion in 2022, $25.75 billion in 2023, and $23.944 billion in 2024.
The expected gross capital expenditure for 2025 is $18 billion, with net capital expenditures projected to be between $8 billion and $11 billion. Lower capital expenditures are anticipated for 2026.
The primary focus of capital expenditures includes strengthening engineering capabilities, enhancing Intel's AI strategy through integrated solutions, and expanding U.S. manufacturing capacity to achieve process technology leadership by 2025 with Intel 18A and an extended roadmap to Intel 14A.

Interactive Breakdown

Intel Interactive Breakdown Analysis

Better Bets than Intel (INTC)

Amazon.com

TSLA (0.3%)

Tesla

		Best Bets In Information Technology Sector
	INTC	VRSN	IDCC	NVDA	RMBS	GEN	ZM	DBX	YOU	MPWR	DAVE
What You Pay
P/E	829.2	28.3	17.2	45.0	44.8	30.0	16.9	14.8	19.6	23.9	20.0
P/EBIT	57.4	20.5	14.0	38.4	38.2	10.6	24.5	12.0	21.4	65.4	22.8
What You Get
Rev Chg Q	2.8%	7.3%	28.0%	62.5%	22.7%	25.3%	4.4%	-0.7%	15.5%	18.9%	63.0%
Rev Chg LTM	-1.5%	5.5%	28.8%	65.2%	31.0%	16.2%	3.8%	-0.4%	17.8%	30.5%	53.8%
Rev Chg 3Y Avg	-7.6%	5.2%	27.1%	91.6%	17.3%	16.5%	3.4%	3.4%	31.0%	17.2%	38.6%
FCF/Rev 3Y Avg	-20.9%	57.4%	54.2%	43.4%	39.3%	36.7%	36.1%	33.4%	32.5%	28.6%	26.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Intel Earnings Notes
2	Intel Earnings Notes
3	Intel Stock Slides 12% With A 5-Day Losing Spree	Notification
4	Now Is Not The Time To Buy Intel Stock	Buy or Fear
5	A Decade of Rewards: $92 Bil From Intel Stock
6	Triggers That Could Ignite the Next Rally In Intel Stock
7	Does Intel Stock Lead the Pack?
8	How Low Can Intel Stock Really Go?	Return
9	Why Intel Stock May Drop Soon
10	Intel Stock Rockets 19% With 5-Day Winning Streak	Notification
11	ARTICLES
12	Intel Stock Plummets -12% With 5-Day Losing Streak		December 18th, 2025
13	Intel Stock To $26?		December 17th, 2025
14	Intel Stock Pays Out $92 Bil – Investors Take Note		December 13th, 2025
15	What Could Send Intel Stock Soaring		December 11th, 2025
16	Does Intel Stock Lead the Pack?		December 5th, 2025

	Title
0	DASHBOARDS
1	Intel Earnings Notes
2	Intel Earnings Notes
3	Intel Stock Slides 12% With A 5-Day Losing Spree
4	Now Is Not The Time To Buy Intel Stock
5	A Decade of Rewards: $92 Bil From Intel Stock
6	Triggers That Could Ignite the Next Rally In Intel Stock
7	Does Intel Stock Lead the Pack?
8	How Low Can Intel Stock Really Go?
9	Why Intel Stock May Drop Soon
10	Intel Stock Rockets 19% With 5-Day Winning Streak
11	ARTICLES
12	Intel Stock Plummets -12% With 5-Day Losing Streak
13	Intel Stock To $26?
14	Intel Stock Pays Out $92 Bil – Investors Take Note
15	What Could Send Intel Stock Soaring
16	Does Intel Stock Lead the Pack?

Trade Ideas

Select ideas related to INTC. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	16.1%	16.1%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	12.0%	12.0%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	16.7%	16.7%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	12.8%	12.8%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	7.8%	7.8%	0.0%
INTC_8312024_Dip_Buyer_High_CFO_Margins_ExInd_DE	08312024	INTC	Intel	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	7.7%	10.5%	-17.7%
INTC_4302022_Dip_Buyer_FCFYield	04302022	INTC	Intel	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-32.1%	-25.6%	-41.5%
INTC_10312020_Dip_Buyer_FCFYield	10312020	INTC	Intel	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	31.7%	13.6%	0.0%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ADEA	Adeia	1.8	30.5%	21.0%
AAOI	Applied Optoelectronics	2.5	24.8%	6.1%
QBTS	D-Wave Quantum	11.0	20.0%	283.2%
ZBIO	Zenas BioPharma	1.8	17.1%	416.8%
UNF	UniFirst	3.6	16.1%	16.4%
FLY	Firefly Aerospace	4.0	16.0%
UAMY	United States Antimony	0.7	16.0%	215.8%
RZLT	Rezolute	0.2	15.8%	-58.2%
RCAT	Red Cat	0.8	14.5%	-28.2%
KURA	Kura Oncology	1.0	14.5%	29.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TPL	Texas Pacific Land	7.0	-66.3%	-72.5%
EWTX	Edgewise Therapeutics	2.2	-18.0%	-21.6%
DJT	Trump Media & Technology	4.0	-10.4%	-57.7%
AVO	Mission Produce	0.8	-9.7%	-17.0%
GTN-A	Gray Media	1.0	-8.0%	43.1%
ANGX	Angel Studios	0.8	-8.0%
DDS	Dillard's	9.6	-7.7%	48.3%
NKTR	Nektar Therapeutics	0.6	-7.2%	211.7%
MPLT	MapLight Therapeutics	0.8	-6.7%
TLRY	Tilray Brands	11.0	-6.6%	-21.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
LUNR	Intuitive Machines	2.0	50.1%	-8.1%
FBYD	Falcons Beyond Global	0.7	46.4%	129.2%
TE	T1 Energy	1.1	44.3%
HUT	Hut 8	5.3	42.2%	145.9%
FLY	Firefly Aerospace	4.0	40.5%
RKLB	Rocket Lab	39.9	40.0%	204.5%
DJT	Trump Media & Technology	4.0	37.8%	-57.7%
QBTS	D-Wave Quantum	11.0	35.6%	283.2%
EEX	Emerald	0.9	34.2%	-0.1%
AAOI	Applied Optoelectronics	2.5	30.8%	6.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-79.5%	-26.1%
TPL	Texas Pacific Land	7.0	-63.9%	-72.5%
LW	Lamb Weston	6.0	-28.0%	-34.3%
OLMA	Olema Pharmaceuticals	2.4	-21.4%	383.4%
FDMT	4D Molecular Therapeutics	0.5	-20.5%	56.4%
NKTR	Nektar Therapeutics	0.6	-18.4%	211.7%
INSP	Inspire Medical Systems	2.9	-17.9%	-47.2%
PLAY	Dave & Buster's Entertainment	0.6	-17.9%	-45.0%
NKE	Nike	84.5	-15.6%	-22.6%
HPP	Hudson Pacific Properties	4.6	-14.9%	-51.6%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TE	T1 Energy	1.1	168.4%
WVE	WAVE Life Sciences	2.9	166.0%	45.3%
LUNR	Intuitive Machines	2.0	107.3%	-8.1%
AAOI	Applied Optoelectronics	2.5	100.6%	6.1%
RKLB	Rocket Lab	39.9	96.4%	204.5%
VERA	Vera Therapeutics	3.4	93.0%	27.2%
ANF	Abercrombie & Fitch	5.9	83.9%	-16.6%
PL	Planet Labs PBC	6.3	83.4%	409.9%
ARWR	Arrowhead Pharmaceuticals	9.6	81.1%	267.0%
FTRE	Fortrea	1.6	76.2%	-5.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.2	-78.8%	-58.2%
TPL	Texas Pacific Land	7.0	-65.7%	-72.5%
JANX	Janux Therapeutics	0.9	-50.7%	-73.7%
FRMI	Fermi	6.2	-42.4%
LENZ	LENZ Therapeutics	0.5	-36.4%	-39.0%
GOGO	Gogo	0.6	-30.3%	-41.9%
UP	Wheels Up Experience	0.4	-27.4%	-62.1%
ACLX	Arcellx	3.7	-27.2%	-15.0%
ORIC	ORIC Pharmaceuticals	0.7	-26.8%	4.1%
KOS	Kosmos Energy	0.5	-26.5%	-71.8%

Peer Comparisons for Intel

Peers to compare with:

Financials

	INTC	AMD	NVDA	QCOM	AVGO	MU	Median
Name	Intel	Advanced.	NVIDIA	Qualcomm	Broadcom	Micron T.
Mkt Price	36.37	214.95	183.69	174.22	341.45	276.59	199.32
Mkt Cap	164.2	349.5	4,468.6	187.8	1,616.1	311.2	330.3
Rev LTM	53,439	32,027	187,142	44,284	63,887	42,312	48,862
Op Inc LTM	-104	2,999	110,122	12,394	26,075	13,771	13,082
FCF LTM	-8,418	5,448	77,324	12,820	26,914	4,652	9,134
FCF 3Y Avg	-11,227	2,775	50,462	11,277	21,320	67	7,026
CFO LTM	8,574	6,408	83,159	14,012	27,537	22,692	18,352
CFO 3Y Avg	10,957	3,461	53,652	12,504	21,861	11,686	12,095

Growth & Margins

	INTC	AMD	NVDA	QCOM	AVGO	MU	Median
Name	Intel	Advanced.	NVIDIA	Qualcomm	Broadcom	Micron T.
Rev Chg LTM	-1.5%	31.8%	65.2%	13.7%	23.9%	45.4%	27.8%
Rev Chg 3Y Avg	-7.6%	12.9%	91.6%	1.2%	25.2%	28.3%	19.1%
Rev Chg Q	2.8%	35.6%	62.5%	10.0%	28.2%	56.7%	31.9%
QoQ Delta Rev Chg LTM	0.7%	8.2%	13.3%	2.4%	6.6%	13.2%	7.4%
Op Mgn LTM	-0.2%	9.4%	58.8%	28.0%	40.8%	32.5%	30.3%
Op Mgn 3Y Avg	-3.7%	4.9%	55.8%	25.9%	38.6%	3.1%	15.4%
QoQ Delta Op Mgn LTM	8.1%	1.1%	0.8%	-0.2%	1.8%	6.3%	1.4%
CFO/Rev LTM	16.0%	20.0%	44.4%	31.6%	43.1%	53.6%	37.4%
CFO/Rev 3Y Avg	20.5%	12.4%	46.2%	31.5%	44.1%	33.9%	32.7%
FCF/Rev LTM	-15.8%	17.0%	41.3%	28.9%	42.1%	11.0%	23.0%
FCF/Rev 3Y Avg	-20.9%	9.8%	43.4%	28.4%	43.0%	-6.0%	19.1%

Valuation

	INTC	AMD	NVDA	QCOM	AVGO	MU	Median
Name	Intel	Advanced.	NVIDIA	Qualcomm	Broadcom	Micron T.
Mkt Cap	164.2	349.5	4,468.6	187.8	1,616.1	311.2	330.3
P/S	3.1	10.9	23.9	4.2	25.3	7.4	9.1
P/EBIT	57.4	113.9	38.4	14.1	62.3	22.2	47.9
P/E	829.2	105.7	45.0	33.9	69.9	26.1	57.5
P/CFO	19.1	54.5	53.7	13.4	58.7	13.7	36.4
Total Yield	0.1%	0.9%	2.2%	5.0%	1.4%	4.0%	1.8%
Dividend Yield	0.0%	0.0%	0.0%	2.0%	0.0%	0.2%	0.0%
FCF Yield 3Y Avg	-9.1%	1.2%	1.7%	7.0%	3.1%	-1.2%	1.4%
D/E	0.3	0.0	0.0	0.1	0.0	0.0	0.0
Net D/E	0.1	-0.0	-0.0	0.0	0.0	0.0	0.0

Returns

	INTC	AMD	NVDA	QCOM	AVGO	MU	Median
Name	Intel	Advanced.	NVIDIA	Qualcomm	Broadcom	Micron T.
1M Rtn	5.4%	5.5%	2.7%	7.2%	0.6%	33.4%	5.5%
3M Rtn	26.5%	34.5%	0.0%	3.2%	1.0%	68.1%	14.8%
6M Rtn	71.6%	65.9%	27.4%	15.0%	35.0%	126.9%	50.5%
12M Rtn	86.3%	80.3%	36.4%	16.5%	56.5%	208.2%	68.4%
3Y Rtn	44.6%	233.2%	1,109.2%	68.3%	546.5%	460.0%	346.6%
1M Excs Rtn	3.0%	-0.9%	-3.5%	4.5%	-6.6%	32.2%	1.1%
3M Excs Rtn	20.6%	30.3%	-0.4%	-0.0%	-2.4%	63.0%	10.3%
6M Excs Rtn	48.4%	42.4%	11.3%	0.2%	17.0%	103.7%	29.7%
12M Excs Rtn	71.3%	59.9%	25.4%	-0.8%	37.3%	150.2%	48.6%
3Y Excs Rtn	-37.6%	146.5%	908.1%	-16.7%	468.8%	363.7%	255.1%

Comparison Analyses

	Title
0	Intel vs. HCA Healthcare: Both Seem Similar Bets
1	Intel vs. Southern: Both Seem Similar Bets
2	Intel vs. American Tower: With Return Forecast Of 14%, Intel Is A Better Bet
3	Intel vs. NVIDIA: With Return Forecast Of 49%, NVIDIA Is A Better Bet
4	Intel vs. Applied Materials: Both Seem Similar Bets
5	Intel vs. Advanced Micro Devices: With Return Forecast Of 63%, Advanced Micro Devices Is A Better Bet
6	Intel vs. Micron Technology: Both Seem Similar Bets
7	Intel vs. Coca-Cola: Both Seem Similar Bets
8	Intel vs. TJX Companies: With Return Forecast Of 13%, Intel Is A Better Bet
9	Intel vs. Cisco Systems: With Return Forecast Of 13%, Intel Is A Better Bet

FDIC Bank Data

$ Mil \| FY: 12/28	LTM	2024	2023	2022	2021	2020	2019
Period End	9/27/2025	12/28/2024	12/30/2023	12/31/2022	12/25/2021	12/26/2020	12/28/2019
Filing Date	11/6/2025	1/31/2025	1/26/2024	1/27/2023	1/27/2022	1/22/2021	1/24/2020
Key Financials
Total Revenue	53,439	53,101	54,228	63,054	79,024	77,867	71,965
EBITDA	14,186	1,203	11,242	21,299	34,092	37,946	35,373
Operating Income	-104	-4,708	31	2,336	22,082	23,876	22,428
Net Income	198	-18,756	1,689	8,014	19,868	20,899	21,048
EPS	0.01	-4.38	0.40	1.95	4.89	4.98	4.77
Growth Rates
Total Revenue Growth	-1.5%	-2.1%	-14.0%	-20.2%	1.5%	8.2%	1.6%
EBITDA Growth	331.1%	-89.3%	-47.2%	-37.5%	-10.2%	7.3%	7.6%
Operating Income Growth	97.2%	-15287.1%	-98.7%	-89.4%	-7.5%	6.5%	-3.5%
Net Income Growth	101.2%	-1210.5%	-78.9%	-59.7%	-4.9%	-0.7%	-0.0%
Margins
EBITDA Margin	26.5%	2.3%	20.7%	33.8%	43.1%	48.7%	49.2%
Operating Income Margin	-0.2%	-8.9%	0.1%	3.7%	27.9%	30.7%	31.2%
Net Income Margin	0.4%	-35.3%	3.1%	12.7%	25.1%	26.8%	29.2%
Cash & Debt
Total Cash	30,935	22,062	25,034	28,338	29,253	23,895	13,123
Total Debt	46,553	50,011	49,266	42,007	38,110	36,401	29,001
Net Debt / (Cash)	15,618	27,949	24,232	13,669	8,857	12,506	15,878
Cash Flows
Net Cash from Operations	8,574	8,288	11,471	15,433	29,456	35,864	33,145
Free Cash from Operations	-8,418	-15,656	-14,279	-9,411	9,127	21,411	16,932
Returns to Shareholders
Dividends	0	1,599	3,088	5,997	5,644	5,568	5,576
Share Repurchases	-0	-0	-0	-0	2,415	14,229	13,576

$ Mil \| FY: 12/28	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/27/2025	6/28/2025	3/29/2025	12/28/2024	9/28/2024	6/29/2024	3/30/2024	12/30/2023	9/30/2023	7/1/2023	4/1/2023	12/31/2022
Filing Date	11/6/2025	7/24/2025	4/25/2025	1/31/2025	11/1/2024	8/2/2024	4/26/2024	1/26/2024	10/27/2023	7/28/2023	4/28/2023	1/27/2023
Key Financials Quarterly
Total Revenue	13,653	12,859	12,667	14,260	13,284	12,833	12,724	15,406	14,158	12,949	11,715	14,042
Ebitda	7,848	471	2,387	3,480	-5,226	859	2,090	5,568	2,599	1,674	1,401	2,640
Operating Income	858	-1,286	-145	469	-3,435	-1,021	-721	1,443	808	-816	-1,404	-670
Net Income	4,063	-2,918	-821	-126	-16,639	-1,610	-381	2,669	297	1,481	-2,758	-664
EPS	0.90	-0.67	-0.19	-0.03	-3.88	-0.38	-0.09	0.63	0.07	0.35	-0.66	-0.16
Key Financials TTM
Total Revenue TTM	53,439	53,070	53,044	53,101	54,247	55,121	55,237	54,228	52,864	54,044	56,416	63,054
Ebitda TTM	14,186	1,112	1,500	1,203	3,291	11,116	11,931	11,242	8,314	8,893	9,567	21,299
Operating Income TTM	-104	-4,397	-4,132	-4,708	-3,734	509	714	31	-2,082	-2,401	-2,198	2,336
Net Income TTM	198	-20,504	-19,196	-18,756	-15,961	975	4,066	1,689	-1,644	-922	-2,857	8,014
Growth Rates Quarterly
Total Revenue Growth	2.8%	0.2%	-0.4%	-7.4%	-6.2%	-0.9%	8.6%	9.7%	-7.7%	-15.5%	-36.2%	-31.6%
EBITDA Growth	250.2%	-45.2%	14.2%	-37.5%	-301.1%	-48.7%	49.2%	110.9%	-18.2%	-28.7%	-89.3%	-68.6%
Operating Income Growth	125.0%	-26.0%	79.9%	-67.5%	-525.1%	-25.1%	48.6%	315.4%	65.2%	-33.1%	-144.9%	-113.4%
Net Income Growth	124.4%	-81.2%	-115.5%	-104.7%	-5702.4%	-208.7%	86.2%	502.0%	-70.9%	426.2%	-134.0%	-114.4%
Margins Quarterly
EBITDA Margin	57.5%	3.7%	18.8%	24.4%	-39.3%	6.7%	16.4%	36.1%	18.4%	12.9%	12.0%	18.8%
Operating Income Margin	6.3%	-10.0%	-1.1%	3.3%	-25.9%	-8.0%	-5.7%	9.4%	5.7%	-6.3%	-12.0%	-4.8%
Net Income Margin	29.8%	-22.7%	-6.5%	-0.9%	-125.3%	-12.5%	-3.0%	17.3%	2.1%	11.4%	-23.5%	-4.7%
Cash & Debt
Total Cash	30,935	21,206	21,048	22,062	24,086	29,273	21,311	25,034	25,030	24,257	27,534	28,338
Total Debt	46,553	50,757	50,151	50,011	50,236	53,029	52,450	49,266	48,879	49,046	50,273	42,007
Net Debt / (Cash)	15,618	29,551	29,103	27,949	26,150	23,756	31,139	24,232	23,849	24,789	22,739	13,669
Cash Flows Quarterly
FCF from Operations	2,546	2,050	813	3,165	4,054	2,292	-1,223	4,624	5,824	2,808	-1,785	7,703
Cash Flows TTM
FCF from Operations TTM	8,574	10,082	10,324	8,288	9,747	11,517	12,033	11,471	14,550	9,756	7,757	15,433
Returns to Shareholders Quarterly
Dividends	0	0	0	0	536	534	529	527	525	524	1,512	1,509
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	4.4%	-6.3%	-0.7%	2.4%	-17.9%	-4.6%	-2.5%	9.1%	5.5%	-5.6%	-10.2%	-5.0%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-0.0%	-5.4%	-5.1%	-6.0%	-4.9%	0.7%	1.0%	0.1%	-2.1%	-1.3%	-3.7%	5.2%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Client Computing Group (CCG)	29,258	31,773	41,067	40,057	37,146
Intel Foundry	18,910	469	786
Data Center and Artificial Intelligence (DCAI)	12,635	19,445	22,691
Network and Edge (NEX)	5,774	8,409	7,976
All Other	5,608	1,089	5,019	522	289
Corporate unallocated	0
Intersegment eliminations	-17,957
Mobileye		1,869	1,386
Accelerated Computing Systems and Graphics			774
Accelerated Computing Systems and Graphics intersegment revenue			-675
Data Center Group				26,103	23,481
Internet of Things Group				3,974	4,700
Non-Volatile Memory Solutions Group				5,358	4,362
Programmable Solutions Group				1,853	1,987
Total	54,228	63,054	79,024	77,867	71,965

Operating Income by Segment

$ Mil	2024	2023	2022	2021	2020
Client Computing Group (CCG)	9,513	5,569	15,704	15,129	15,202
Data Center and Artificial Intelligence (DCAI)	1,620	1,300	8,439
All Other	1,079	-5,977	-5,722	-3,381	-3,878
Network and Edge (NEX)	204	1,033	1,711
Intersegment eliminations	-203
Corporate unallocated	-5,165
Intel Foundry	-6,955	-281	-23
Mobileye		690	554
Accelerated Computing Systems and Graphics			-1,207
Data Center Group				10,571	10,227
Internet of Things Group				738	1,342
Non-Volatile Memory Solutions Group				361	-1,176
Programmable Solutions Group				260	318
Total	93	2,334	19,456	23,678	22,035

Price Behavior

Price Behavior

Market Price	$36.37
Market Cap ($ Bil)	164.2
First Trading Date	03/17/1980
Distance from 52W High	-16.9%
	50 Days	200 Days
DMA Price	$38.03	$27.02
DMA Trend	up	up
Distance from DMA	-4.4%	34.6%
	3M	1YR
Volatility	56.6%	64.1%
Downside Capture	186.80	143.31
Upside Capture	278.63	183.46
Correlation (SPY)	48.3%	47.0%

INTC Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	2.52	2.29	2.10	1.91	1.51	1.62
Up Beta	1.27	0.64	1.13	1.74	1.63	1.62
Down Beta	2.81	1.75	2.36	2.14	1.28	1.46
Up Capture	215%	365%	390%	325%	254%	500%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	9	23	32	66	115	378
Down Capture	300%	254%	144%	124%	123%	110%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	18	30	58	130	368

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of INTC With Other Asset Classes (Last 1Y)
	INTC	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	77.9%	21.7%	14.7%	67.3%	6.8%	-0.5%	-16.6%
Annualized Volatility	64.0%	27.8%	19.7%	19.3%	15.2%	17.6%	35.4%
Sharpe Ratio	1.14	0.69	0.57	2.54	0.23	-0.18	-0.25
Correlation With Other Assets		47.6%	47.5%	3.9%	17.5%	31.3%	24.1%

ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of INTC With Other Asset Classes (Last 5Y)
	INTC	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-4.4%	19.4%	15.0%	18.9%	11.8%	5.1%	35.8%
Annualized Volatility	46.3%	24.7%	17.1%	15.5%	18.7%	18.9%	48.9%
Sharpe Ratio	0.06	0.71	0.71	0.98	0.51	0.18	0.63
Correlation With Other Assets		54.7%	52.7%	10.5%	14.0%	32.5%	21.9%

Based On 10-Year Data

		Comparison of INTC With Other Asset Classes (Last 10Y)
	INTC	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	2.9%	22.4%	14.9%	14.9%	6.7%	5.5%	69.9%
Annualized Volatility	40.2%	24.2%	18.0%	14.8%	17.6%	20.8%	55.8%
Sharpe Ratio	0.21	0.85	0.71	0.84	0.30	0.23	0.90
Correlation With Other Assets		62.1%	59.2%	5.9%	20.3%	37.9%	17.6%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	132,752,358
Short Interest: % Change Since 11152025	0.6%
Average Daily Volume	79,151,015
Days-to-Cover Short Interest	1.68
Basic Shares Quantity	4,514,000,000
Short % of Basic Shares	2.9%

Returns Analyses

	Title
0	How Low Can Intel Stock Really Go?
1	Intel During 2008 Recession vs. 2022 Inflation Shock: INTC Stock Has 69% Upside If It Recovers To Pre-Inflation Shock Levels
2	Intel (INTC) Stock Has 59% Chance Of Rise In The Next One Month
3	[10/13/2021] Intel (INTC) Stock Price Forecast: AI Forecasts INTC Stock Price To Be Around $53.40 In A Month (Up 2.2%)
4	Intel Total Shareholder Return (TSR): -45.8% in 2022 and -21.1% 3-yr returns (below peer average)

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/23/2025	0.3%	5.2%	-9.6%
7/24/2025	-8.5%	-12.5%	9.6%
4/24/2025	-6.7%	-7.0%	-6.7%
1/30/2025	-2.9%	-3.1%	13.6%
10/31/2024	7.8%	21.9%	11.2%
8/1/2024	-26.1%	-29.0%	-23.6%
4/25/2024	-9.2%	-13.1%	-12.1%
1/25/2024	-11.9%	-12.5%	-13.0%
...
SUMMARY STATS
# Positive	8	9	7
# Negative	16	15	17
Median Positive	7.2%	5.0%	10.8%
Median Negative	-7.8%	-9.3%	-9.8%
Max Positive	10.7%	21.9%	36.0%
Max Negative	-26.1%	-29.0%	-23.6%

	Forward Returns
10/23/2025	0.3%	5.2%	-9.6%
7/24/2025	-8.5%	-12.5%	9.6%
4/24/2025	-6.7%	-7.0%	-6.7%
1/30/2025	-2.9%	-3.1%	13.6%
10/31/2024	7.8%	21.9%	11.2%
8/1/2024	-26.1%	-29.0%	-23.6%
4/25/2024	-9.2%	-13.1%	-12.1%
1/25/2024	-11.9%	-12.5%	-13.0%
10/26/2023	9.3%	15.9%	36.0%
7/27/2023	6.6%	0.9%	-3.4%
4/27/2023	4.0%	5.1%	-2.5%
1/26/2023	-6.4%	0.3%	-16.2%
10/27/2022	10.7%	4.3%	10.8%
7/28/2022	-8.6%	-9.3%	-15.1%
4/28/2022	-6.9%	-4.0%	-4.1%
1/26/2022	-7.0%	-4.2%	-7.0%
10/21/2021	-11.7%	-14.1%	-11.0%
7/22/2021	-5.3%	-4.0%	-6.5%
4/22/2021	-5.3%	-6.9%	-9.8%
1/14/2021	-2.8%	-4.4%	6.1%
10/22/2020	-10.6%	-18.2%	-15.2%
7/23/2020	-16.2%	-20.5%	-17.9%
4/23/2020	0.4%	1.6%	6.0%
1/23/2020	8.1%	5.0%	-2.0%
SUMMARY STATS
# Positive	8	9	7
# Negative	16	15	17
Median Positive	7.2%	5.0%	10.8%
Median Negative	-7.8%	-9.3%	-9.8%
Max Positive	10.7%	21.9%	36.0%
Max Negative	-26.1%	-29.0%	-23.6%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	11062025	10-Q 9/27/2025
6302025	7242025	10-Q 6/28/2025
3312025	4252025	10-Q 3/29/2025
12312024	1312025	10-K 12/28/2024
9302024	11012024	10-Q 9/28/2024
6302024	8022024	10-Q 6/29/2024
3312024	4262024	10-Q 3/30/2024
12312023	1262024	10-K 12/30/2023
9302023	10272023	10-Q 9/30/2023
6302023	7282023	10-Q 7/1/2023
3312023	4282023	10-Q 4/1/2023
12312022	1272023	10-K 12/31/2022
9302022	10282022	10-Q 10/1/2022
6302022	7292022	10-Q 7/2/2022
3312022	4292022	10-Q 4/2/2022
12312021	1272022	10-K 12/25/2021

Insider Activity

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External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Intel (INTC)

Market Price (12/23/2025): $36.45 | Market Cap: $164.5 BilSector: Information Technology | Industry: Semiconductors

Intel (INTC)

Market Price (12/23/2025): $36.45Market Cap: $164.5 BilSector: Information TechnologyIndustry: Semiconductors

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

INTC Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

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Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Intel (INTC)

Lip-Bu Tan, Chief Executive Officer

David Zinsner, Executive Vice President and Chief Financial Officer

Michelle Johnston Holthaus, Chief Executive Officer, Intel Products

Naga Chandrasekaran, Executive Vice President, Chief Technology and Operations Officer, and GM of Intel Foundry

April Miller Boise, Executive Vice President, Chief Legal Officer & Corporate Secretary

Interactive Breakdown

Better Bets than Intel (INTC)

INDUSTRY: Semiconductors

Higher Rev Chg 3Y Avg | Lower P/S (Values for INTC: -7.6% | 3.1x)

Higher Rev Chg LTM (Value for INTC: -1.5%)

Higher Rev Chg 3Y Avg (Value for INTC: -7.6%)

Higher Op Mgn LTM (Value for INTC: -0.2%)

Higher CFO/Rev LTM (Value for INTC: 16.0%)

Higher FCF/Rev LTM (Value for INTC: -15.8%)

Higher Total Yield (Value for INTC: 0.1%)

SECTOR: Information Technology

Higher Rev Chg 3Y Avg | Lower P/S (Values for INTC: -7.6% | 3.1x)

Higher Rev Chg LTM (Value for INTC: -1.5%)

Higher Rev Chg 3Y Avg (Value for INTC: -7.6%)

Higher Op Mgn LTM (Value for INTC: -0.2%)

Higher CFO/Rev LTM (Value for INTC: 16.0%)

Higher FCF/Rev LTM (Value for INTC: -15.8%)

Higher Total Yield (Value for INTC: 0.1%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for INTC: -7.6% | 3.1x)

Higher Rev Chg LTM (Value for INTC: -1.5%)

Higher Rev Chg 3Y Avg (Value for INTC: -7.6%)

Higher Op Mgn LTM (Value for INTC: -0.2%)

Higher CFO/Rev LTM (Value for INTC: 16.0%)

Higher FCF/Rev LTM (Value for INTC: -15.8%)

Higher Total Yield (Value for INTC: 0.1%)

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Market Price (12/23/2025): $36.45 | Market Cap: $164.5 Bil
Sector: Information Technology | Industry: Semiconductors

Market Price (12/23/2025): $36.45
Market Cap: $164.5 Bil
Sector: Information Technology
Industry: Semiconductors