By Stephen Guilfoyle
Publication Date: 2026-06-09 14:55:00
Anyone else thinking about adding to, or initiating a new, long position in Intel (INTC)? The shares apexed at $132.75 almost a month ago (May 11) after a parabolic run in April. Since then, it’s been sort of a sideways-to-lower ride for shareholders. Will the share price come all the way back in? Gee whiz. I hope not. This was a $40 stock in late March. What caught my eye and made me take this serious look was the action over the past two days. On Friday, INTC gave up 11.3%, dragged lower by the entire semiconductor group after Broadcom (AVGO) reported.
On Monday, INTC rallied 11.2% on early reports that both Nvidia (NVDA) and Alphabet (GOOGL) were considering using Intel as a backup to Taiwan Semiconductor (TSM) to meet their respective foundry needs. Later in the day, The Information reported that due to capacity issues at TSM, that Google had indeed placed an order with Intel to manufacture more than three million tensor processing units in 2028. Google decided to tap Intel to manufacture these TPUs after months of testing Intel’s technology. Nvidia has apparently not yet placed an order with Intel and is still testing the technology.
The Chart Says…
… Game on. Yes, this is an opinion.
Take a look at the chart. Yes, I drew up the chart, so it reflects my interpretation of price discovery in this stock, but see if you see what I see. From last October into mid-April, INTC traded sideways in what I call a “flat base” or a (long) rectangle. This kind of…
