INTC·Semiconductors (IDM — CPU/AI compute design + leading-edge foundry)

Intel

ConvictionWeak

Integrated device manufacturer: designs and sells x86 client/server CPUs and AI accelerators (DCAI, CCG), plus Altera FPGAs and Mobileye ADAS, while standing up Intel Foundry as a contract manufacturer for external customers (18A/14A). Revenue is product sales + nascent external wafer/packaging fees; economics dominated by fab capex and a deeply loss-making foundry ramp.

Revenuefact

$13.6B Q1 FY26+7% YoY ; FY25 $52.9B, ~flat YoY (fact, weakest full year since 2010

Rev growth

+7% YoYfact, Q1 FY26); FY25 ~flat

Gross margin

GAAP 39.4% / non-GAAP 41.0%fact, Q1 FY26 — non-GAAP was ~650bps above own 34.5% guide, a record beat

Op marginfact

GAAP23.1)% operating margin, $(3.1)B operating loss (fact, Q1 FY26); FY25 GAAP op margin ~0.2%

Capex intensity

gross capex/revenue ~37%fact, Q1 FY26: $4.96B / $13.6B); FY25 ~$14.6B capex on $52.9B rev ≈ 28%

Market cap

~$667Bfact, ~$132/sh × 5.03B sh, 25 Jun 2026) — note: a ~485% 12-month / ~253% YTD AI- and government-backing-driven re-rating; 52-wk range $18.97–$141.45

Price · 1-year trend

real · weekly

$110+370% 1yUSD

52-week range

$19 – $141

52w lowas of 2026-07-08 · Yahoo Finance52w high

Across the boards

The thesis on this name

opportunityWeak

AI Compute Value-Chain

Full context

Primary source

Reported financials — SEC EDGAR

Audited GAAP figures pulled from SEC filings · latest filing 2026-01-23. The audited primary-source spine — not investment advice.

Revenue — annual (GAAP)

FY’21

$79.0B

FY’22

$63.1B-20%

FY’23

$54.2B-14%

FY’24

$53.1B-2%

FY’25

$52.9B0%

Margins & balance sheet — FY’25

Gross margin34.8%

Operating margin-4.2%

Net margin-0.5%

Net debt$27.8B

The read

Where our coverage leans

Bull & bear in tension

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Full financial intelligence for Intel

Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.

Income statement & margin structure
SWOT, moats & dependency map
Supplier–customer ecosystem graph
Signals, trends & valuation range

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Not investment advice — analyst work product for a qualified professional.· intel vintage Jun 2026· sign in (free) for the analyst summary; Pro unlocks full intelligence