The Intel Corporation surged more than 24% in intraday trading Friday after reporting first-quarter results that exceeded Wall Street expectations, lifting the broader semiconductor sector and pushing the Nasdaq Composite higher despite ongoing geopolitical tensions tied to the Iran conflict.
Intel reported revenue of $13.58 billion for the quarter, well above analyst estimates of $12.41 billion, while non-GAAP earnings per share came in at $0.29, sharply exceeding consensus expectations of $0.01, according to data cited by CNBC, marking the sixth consecutive quarter the company has beaten its own guidance.
Chief Executive Lip-Bu Tan said in the earnings release that the company’s performance reflected “strong demand for our products and disciplined execution,” while Chief Financial Officer David Zinsner pointed to “unprecedented demand for silicon” as supply constraints eased and production scaled.
The results triggered a sector-wide rally, with Advanced Micro Devices climbing more than 15% and Qualcomm gaining over 10%, as investors recalibrated expectations for chip demand tied to artificial intelligence and data center expansion.
The broader market responded positively, with the Nasdaq Composite rising approximately 1.5% midday, while the S&P 500 gained 0.5%, offsetting weakness in the Dow Jones Industrial Average, which was weighed down by energy and financial stocks amid uncertainty tied to developments involving Abbas Araqchi and potential negotiations.
Intel’s guidance for second-quarter revenue between $13.8 billion and $14.8 billion reinforced expectations that semiconductor demand remains strong, particularly in AI-related segments where revenue rose 40% year-over-year.
Investors will now be watching whether sustained demand and easing geopolitical risks can continue to support semiconductor valuations, which have already surged sharply in recent months, as the sector remains central to broader market performance.
JBizNews Desk
