Intel’s Stock Skyrockets by 24%: A Record High Since 1987
Intel Corporation marked its best single-day stock performance since October 1987 on Friday, April 24, 2026. The shares soared by an impressive 24%, closing at $82.57. This surge came after the chipmaker reported first-quarter results that far exceeded Wall Street’s expectations.
The company reported a revenue of $13.58 billion, surpassing consensus estimates of $12.42 billion. The adjusted earnings per share of $0.29 shattered the $0.01 estimate by a staggering margin—a 2,800% beat. The significant growth was primarily driven by Intel’s data center business, with revenue jumping 22% year-over-year to $5.1 billion. This is largely attributed to the renewed demand for central processing units, fueled by AI.
CEO Lip-Bu Tan, who assumed leadership early last year, has rekindled Wall Street’s interest in the once-struggling chipmaker. Strategic investments from the Trump administration and Nvidia have enabled the company to establish a strong presence in the AI boom, an area where it had previously been largely overlooked. “The CPU is reinserting itself as the indispensable foundation of the AI era,” Tan remarked during the earnings call.
The rally extended well beyond Intel, triggering a broader surge in the semiconductor sector. The overall chip sector reached new all-time highs, with AMD jumping 14%, and Qualcomm gaining 11%. Following an 84% rise in 2025, Intel’s stock has now gained 124% year-to-date. However, analysts caution that the rapid valuation expansion may necessitate consolidation in the future.
Source: CNBC