Intel Corp. (NASDAQ:INTC) stock fell more than 3% in Thursday’s premarket trading as investors trimmed exposure to technology stocks ahead of the opening bell. Nasdaq futures were down 1.07%, while S&P 500 futures slipped 0.44%.
Investors reacted to Taiwan Semiconductor Manufacturing Company Ltd.’s (NYSE:TSM) stronger-than-expected capital spending plans, which triggered broad profit-taking across semiconductor stocks.
Intel stock has rallied sharply over the past year, making it vulnerable to profit-taking during a risk-off session. The shares have also fallen below their short-term trend levels, which may encourage traders to remain cautious until buying interest returns. While Intel remains above its longer-term moving averages, the recent pullback suggests momentum has slowed.
Intel Technical Analysis
Intel is trading 18.3% below its 20-day simple moving average and 15.3% below its 50-day simple moving average. However, the stock remains 15% above its 100-day simple moving average and 56.5% above its 200-day simple moving average.
The longer-term trend remains constructive. The 20-day moving average is still above the 50-day moving average, while the 50-day remains above the 200-day moving average following a golden cross in August 2025.
Momentum has weakened, however. The moving average convergence divergence (MACD) indicator remains below its signal line, with a negative histogram. That setup suggests selling pressure continues to outweigh buying momentum in the near term.
Intel reached its 52-week high in June before pulling back. A key support level now sits near $98.50, an area traders may watch for signs of stabilization.
Earnings And Analyst Outlook
Intel is scheduled to report second-quarter earnings on July 23.
Wall Street expects earnings of 19 cents per share, compared with a loss of 10 cents per share a year earlier. Analysts also expect revenue of $14.40 billion, up from $12.86 billion in the prior-year quarter.
The stock carries a Hold consensus rating with an average price forecast of $94.85. Recent analyst actions include:
- KeyBanc maintained Overweight and raised its price forecast to $155 on July 14.
- UBS maintained Neutral and raised its price forecast to $121 on July 13.
- TD Cowen maintained Hold and raised its price forecast to $115 on July 13.
Intel Benzinga Edge Rankings
Intel earns a Momentum score of 98.97, reflecting its strong long-term performance despite the recent decline.
The stock remains in a longer-term uptrend, but traders may look for Intel to reclaim its short-term moving averages before turning more bullish.
ETF Exposure
Intel is a significant holding in several technology-focused exchange-traded funds, including the VanEck Semiconductor ETF (NASDAQ:SMH) with a 7.36% weighting, the SPDR NYSE Technology ETF (NYSE:XNTK) at 6.35%, and the Invesco AI and Next Gen Software ETF (NYSE:IGPT) at 7.25%.
Large inflows or outflows in those funds can influence demand for Intel shares.
Intel Price Action
INTC Stock Price Activity: Intel shares were down 3.20% at $99.69 during premarket trading on Thursday, according to Benzinga Pro data.