INTC Rises

Intel Corp. (NASDAQ: INTC ) stock climbed nearly 6% in Thursday’s premarket session after strong results and guidance from Micron Technology Inc. (NASDAQ: MU ) lifted sentiment across the AI semiconductor sector.

A fresh analyst initiation from Goldman Sachs also added to the bullish momentum.

S&P 500 futures were up 0.7% before the opening bell.

Micron Results Lift AI Chip Stocks Micron reported fiscal third-quarter adjusted earnings of $25.11 per share on revenue of $41.46 billion, beating Wall Street expectations.

The memory-chip maker also forecast fiscal fourth-quarter adjusted earnings of about $31 per share on revenue of roughly $50 billion.

Adding to the positive sentiment, Goldman Sachs analyst James Schneider initiated coverage of Intel on Thursday with a Neutral rating and a $150 price forecast.

Read Also: Exclusive: Trump’s Intel Push Won’t Kill TSMC—Why The World’s ‘Indispensable Backbone’ Remains A Buy Technical Picture Remains Strong At around $139, Intel is approaching its 52-week high of $141.45.

A move above that level could signal another leg higher, while rejection near the previous high may trigger profit-taking.

The stock remains in a strong uptrend.

It trades 16.8% above its 20-day simple moving average of $118.49, 30.9% above its 50-day SMA of $105.74 and 142.2% above its 200-day SMA of $57.17.

The moving average convergence/divergence indicator also remains constructive.

MACD is above its signal line with a positive histogram, suggesting bullish momentum continues to build.

Key resistance stands at $141.45, while initial support sits near the 20-day SMA at $118.49.

Earnings And Analyst Outlook Intel is expected to report quarterly results on July 23.

Wall Street expects earnings of 19 cents per share, compared with a loss of 10 cents a year earlier.

Revenue is projected to rise to $14.40 billion from $12.86 billion.

The stock currently carries a Hold consensus rating with an average analyst price forecast of $86.41.

Recent analyst actions include: Goldman Sachs: Initiated with Neutral; $150 price forecast (June 25) Bank of America Securities: Reiterated Buy; raised price forecast to $160 (June 23) Bank of America Securities: Upgraded to Buy; raised price forecast to $135 (June 11) Edge View According to Edge, Intel has a Momentum score of 99.43, reflecting strong relative strength and sustained buying pressure.

The stock’s trend remains favorable, but investors will be watching whether Intel can decisively break above its 52-week high without triggering a sharp pullback after its recent rally.

ETF Exposure Intel remains a major holding in several semiconductor and value-focused exchange-traded funds, including: iShares Semiconductor ETF (NASDAQ: SOXX ): 6.30% weighting iShares MSCI USA Value Factor ETF (BATS: VLUE ): 9.28% weighting Pacer Data and Digital Revolution ETF (NYSE: TRFK ): 7.85% weighting Strong inflows or outflows in these funds can create additional buying or selling pressure in Intel shares.

Price Action INTC Stock Price Activity: Intel shares were up 5.58% at $139.00 during premarket trading on Thursday, according to Pro data.

Image via Shutterstock Read Also: Intel Stock Jumps On Report Google, NVIDIA Eye It As Backup Chipmaker