Intel(NASDAQ:INTC), pioneer of the microprocessor and producer of a range of other products, closed Friday at $82.55, up 23.61%. The stock jumped to a new record after a blowout Q1 earnings beat and strong guidance. Investors are watching how sustainably AI server and data center demand supports future growth.
Trading volume reached 264 million shares, about 147% above its three-month average of 106.7 million shares. Intel IPO’d in 1980 and has grown 25,259% since going public.
How the markets moved today
The S&P 500(SNPINDEX:^GSPC) rose 0.79% to 7,164, while the Nasdaq Composite(NASDAQINDEX:^IXIC) gained 1.63% to finish at 24,837. Within semiconductors, industry peers Advanced Micro Devices(NASDAQ:AMD) closed at $347.77, up 13.90%, and Nvidia(NASDAQ:NVDA) finished at $208.27, rising 4.32%, as investors leaned into AI-related chipmakers.
What this means for investors
Intel stock surged to a record high today, but investors now want to see if AI demand can continue to drive it higher. Adjusted earnings per share came in at $0.29, significantly surpassing Wall Street’s consensus estimate of $0.02. Guidance for Q2 also impressed investors with improving gross profit margin.
The results were helped by improved manufacturing yields, but the underlying driver is surging AI-driven demand for its CPUs in servers and data centers. The U.S. government supported the company with about $20 billion in CHIPS Act backing, and now has a stake in Intel worth about $36 billion.
Intel’s stock performance this year is far outpacing predictions. While the business is strong, Intel’s valuation now looks due for a pullback.
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Howard Smith has positions in Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices, Intel, and Nvidia. The Motley Fool has a disclosure policy.
