Intel Corp. shares fell more than 3% in Thursday’s premarket trading as investors trimmed exposure to technology stocks ahead of the opening bell. The decline follows Taiwan Semiconductor Manufacturing Company Ltd.’s stronger-than-expected capital spending plans, which triggered broad profit-taking across semiconductor stocks. Nasdaq futures were down 1.07%, while S&P 500 futures slipped 0.44%. Intel stock has rallied sharply over the past year, making it vulnerable to profit-taking during a risk-off session.

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, with the 20-day moving average 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, with the moving average convergence divergence (MACD) indicator remaining below its signal line and a negative histogram. This setup suggests selling pressure continues to outweigh buying momentum in the near term. Intel reached its 52-week high in June before pulling back, with a key support level now sitting near $98.50.

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 maintaining Overweight and raising its price forecast to $155 on July 14, UBS maintaining Neutral and raising its price forecast to $121 on July 13, and TD Cowen maintaining Hold and raising its price forecast to $115 on July 13.

ETF Exposure

Intel is a significant holding in several technology-focused exchange-traded funds, including the VanEck Semiconductor ETF with a 7.36% weighting, the SPDR NYSE Technology ETF at 6.35%, and the Invesco AI and Next Gen Software ETF at 7.25%. Large inflows or outflows in those funds can influence demand for Intel shares. Intel shares were down 3.20% at $99.69 during premarket trading on Thursday.

U.S. stocks settled higher on Friday, with the Dow Jones index gaining around 150 points during the session. The S&P 500 gained over 1% last week, while the Nasdaq also rose more than 1%. However, the Dow declined 0.5% during the week. Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst’s opinion to trust.

Benzinga’s Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.

Top Analyst Picks

Fortunately, any Benzinga reader can access the latest analyst ratings on the Analyst Stock Ratings page. One of the ways traders can sort through Benzinga’s extensive database of analyst ratings is by analyst accuracy. Here’s a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga Analyst Stock Ratings.

Recent Ratings and Targets

Ruben Roy from Stifel maintained a Hold rating on Intel Corp and boosted the price target from $75 to $120 on July 10. This analyst sees around 9% upside in the stock. Intel said it will report second-quarter financial results on Thursday, July 23.

Aaron Rakers from Wells Fargo maintained an Overweight rating on Western Digital Corp and raised the price target from $575 to $730 on July 10. This analyst sees around 25% upside in the stock. On April 30, Western Digital reported third-quarter earnings of $2.72 per share, which beat the Street estimate of $2.39, according to Benzinga Pro data.

Josh Sullivan from Jones Trading initiated coverage on Flotek Industries Inc with a Buy rating and a price target of $40 on July 9. This analyst sees around 56% gain in the stock. Flotek will issue its second quarter financial and operating results after the closing bell on Tuesday, Aug. 4.

Wamsi Mohan from B of A Securities maintained a Buy rating on Amphenol Corp and raised the price target from $180 to $185 on July 9. This analyst expects around 14% gain in the stock. On May 7, Amphenol announced a second quarter dividend of 25 cents per share.

Brian Chin from Stifel maintained a Buy rating on Applied Materials Inc and increased the price target from $530 to $650 on July 10. This analyst expects around 8% surge in the stock. On June 17, Applied Materials unveiled its new SENZ platform.