Intel Stock Up Nearly 8%: AI Growth Narrative Trumps Foundry Capex Concerns

Intel Corp (NASDAQ: INTC) stock gained almost 8% during Tuesday's early trading as traders weigh profit-taking risk against the company's AI-driven growth narrative, with S&P 500 futures up 0.3%. The latest push-pull for the stock has centered on investors locking in gains after a sharp run, alongside ongoing concerns about elevated valuation expectations and Intel's heavier capital spending plan. In its most recent update, the company pointed to AI data-center demand as a key driver and raised its 2026 capital spending plan to $20 billion from $18 billion. Intel is still in a longer-term uptrend, up 366.67% over the past 12 months, and it's trading 42.2% above its 200-day SMA ($67.31), which keeps the big-picture trend constructive. The next major catalyst for the stock arrives with the October 22, 2026 earnings report. EPS estimate is 24 cents (up from 23 cents YoY) and revenue estimate is $15.01 billion (up from $13.65 billion YoY). The stock carries a Hold rating with an average price forecast of $109.07 across 50 analysts. Recent analyst moves include B of A Securities: Buy (Maintains Forecast to $160.00), Baird: Neutral (Raises Forecast to $125.00), and DA Davidson: Neutral (Raises Forecast to $100.00). Intel shares were up 7.78% at $98.08 at the time of publication.