Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products. It also offers silicon devices and software products; and optimization solutions for workloads, such as AI, cryptography, security, storage, networking, and leverages various features supporting diverse compute environments. In addition, the company develops and deploys advanced driver assistance systems (ADAS), and autonomous driving technologies and solutions; and provides advanced process technologies backed by an ecosystem of IP, EDA, and design services, as well as systems of chips, including advanced packaging technologies, software and accelerate bring-up, and integration of chips and driving standards. Further, it delivers and deploys intelligent edge platforms that allow developers to achieve agility and drive automation using AI for efficient operations with data integrity, as well as provides hardware and software platforms, tools, and ecosystem partnerships for digital transformation from the cloud to edge. The company serves original equipment manufacturers, original design manufacturers, cloud service providers, and other manufacturers and service providers. It has a strategic agreement with Synopsys, Inc. to develop EDA and IP solutions; and ARM that enables chip designers to build optimized compute SoCs on the Intel 18A process. Intel Corporation was incorporated in 1968 and is headquartered in Santa Clara, California.

Intel appears to be a company with a noticeable recovery in revenue and earnings, but still without convincing evidence of sustainable operating profitability. Revenue of around $13.6 billion and growth in gross profit/EBITDA suggest that the business base remains intact and that the company’s scale is still very large. At the same time, a gross margin of 38.6% is below the industry median, while operating margin, ROE, ROA, ROI, and net profit margin on a TTM basis are effectively zero, indicating weak conversion of revenue into sustainable returns. TTM EPS of 0.30 and forecast EPS of 0.10 remain below industry benchmarks, and the forecast trend looks unconvincing, which limits re-rating potential. On valuation multiples, the picture is mixed: P/S of 7.5 and P/B of 4.35 are above the industry median, meaning the market is already pricing in meaningful improvement, while P/E and P/FCF provide no useful signal due to zero values. The debt burden, with debt/equity at 0.34, looks moderate and even slightly better than one might expect for such a large, capital-intensive business, but a current ratio of 1.60 and quick ratio of 1.25 are below industry benchmarks, so the liquidity cushion does not look comfortable. A cash position of $29.7 billion supports stability, and net worth and equity remain very large, reducing the risk of financial stress. However, total liabilities of about $99.3 billion and long-term debt above $43 billion are a reminder that the balance sheet remains heavy and sensitive to the investment cycle. The dividend yield of 0.66% is there, but it is too small to materially offset weak current profitability. Over the recent periods, there has been progress after a weak 2024, but it still looks more like an early-stage recovery than a durable turnaround in quality. For valuation, this means the base case should remain with a moderately negative tilt: fundamentals have improved, but premium multiples already reflect part of the expectations, while operating efficiency has not yet returned to a level that would justify a more aggressive target.

Intel Corporation

Сильный индекс, незначительно упал. Быки в растерянности.

Strong index, slightly down. The bulls are confused.

Слабый индекс, значительно упал. Уверенность медведей остается на низком уровне.

Weak index, significantly down. Bearish confidence remains low.

Сильный индекс, незначительно упал. Рынок на стороне быков.

Strong index, slightly down. The market is on the bulls' side.

Средний индекс, незначительно вырос. Рынок не поддерживает медведей.

Medium index, slightly up. The market does not support the bears.

Средний индекс, незначительно упал. Приток средств в лонги снизился, но остается положительным.

Medium index, slightly down. The inflow of funds into longs has decreased, but remains positive.

Средний индекс, незначительно вырос. Отток средств из шортов на высоком уровне.

Medium index, slightly up. Outflow of funds from shorts at a high level.

Intel is showing a recovery in revenue and profit, but weak profitability, expensive valuation multiples, and moderate liquidity are still limiting upside for now.

Key Points
Druckenmiller has a long history of success as a hedge fund manager and today oversees more than $5 billion at his family office.
Druckenmiller’s latest AI chip buy is a company that has seen revenue soar in recent times.
Investors often look to billionaires for inspiration because they have demonstrated their investing strengths over many years. And one in particular who has drawn attention is Stanley Druckenmiller. Throughout his 30-year career at Duquesne Capital Management, this top investor produced a 30% average annual return -- and this, without any money-losing years.
Druckenmiller retired years ago and is now head of the Duquesne Family Office, where he oversees $5.2 billion in 13F securities. What's a 13F? Managers of more than $100 million must report their moves to the Securities and Exchange Commission every quarter on this form. This offers us a glimpse into their investment strategies.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
And this brings me to Druckenmiller's latest actions in the second quarter. The investing giant dumped Broadcom (NASDAQ: AVGO), Intel (NASDAQ: INTC), and Micron Technology (NASDAQ: INTC) for the following chip stock. Here's why.
Roles in the AI space
So, first, a quick note on Broadcom, Intel, and Micron. They each play roles in the booming artificial intelligence (AI) space. Broadcom makes routers and switches as well as custom AI chips, and this has helped revenue jump in recent quarters. Chip giant Intel fell behind early in the AI race, but the company has proven itself to be an interesting recovery story in recent times. The company's leadership in the central processing unit (CPU) market has helped, as these chips are seen as playing an important role in the era of agentic AI. Micron's business is booming amid enormous demand for memory chips -- in fact, demand is so high that it's created a tight supply situation, and memory prices have soared. All of this has boosted revenue at Micron.
The performance of these three stocks reflects their successes, though Broadcom has lost some momentum in recent months.
Now, let's consider the moves Druckenmiller made in the second quarter:
He closed out his positions in Broadcom, Intel, and Micron. These previously represented 1.8%, 0.5%, and 0.2% of his portfolio, respectively.
Druckenmiller opened a position in chip designer Advanced Micro Devices (NASDAQ: AMD). He bought 72,900 shares, and AMD now represents 0.8% of his portfolio.
Druckenmiller hasn't offered an explanation for the move, but a close look at today's AI market may help explain it. Though Broadcom, Intel, and Micron are well-positioned to benefit from AI moving forward, AMD may offer a particularly interesting opportunity. As a leader in the CPU market and a company making important progress in the GPU market, AMD is prompting investors to sit up and take notice.
The importance of the CPU
CPUs may not have been a big focus in the earliest days of AI, but today they are emerging as an essential player -- this is because the CPU powers agentic AI, or an AI agent as it considers a problem and takes steps to solve it. And agentic AI is seen as the next big area of growth.
Nvidia still dominates in the GPU market, and this is likely to continue, but AMD has greatly increased its data center offerings -- and it's seeing success, with revenue soaring. Meanwhile, since AMD's data center revenue is significantly lower than that of Nvidia -- at $6.7 billion versus $89 billion -- AMD clearly has more room for growth.
All of these elements may have prompted Druckenmiller to lock in gains on certain AI stocks and shift his investment into AMD, to benefit as demand for CPUs intensifies and data center revenue takes off.
Is AMD the right investment for you? In my opinion, AMD, trading at 66x forward earnings estimates, looks a bit pricey at the moment, so it probably isn't the best time to buy if you focus on value. But it's clear that AMD is on track to play a big role in the AI story, particularly as the use of AI agents increases, and this makes the stock a fantastic one to put on your watch list and potentially buy on the dip.
Should you buy stock in Advanced Micro Devices right now?
Before you buy stock in Advanced Micro Devices, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Advanced Micro Devices wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $409,917!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,341,724!*
Now, it’s worth noting Stock Advisor’s total average return is 942% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 12, 2026.
Adria Cimino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Broadcom, Intel, and Nvidia. The Motley Fool has a disclosure policy.

Billionaire Stanley Druckenmiller Dumped Broadcom, Intel, and Micron for This Chip Stock. Here's Why.

Key Points
Selling AMD at a 33% gain in 2004 felt like skill, but the stock would have soared from $15 to $500 per stub in 22 years.
Owning one bank, one carmaker, and one oil company is not diversification if you can't explain any of their businesses.
Time and compounding do most of the work, and the holding period matters more than the ticker.
There is a TD Ameritrade statement in my office from the mid-2000s that I keep meaning to throw away. I found it again last week. Instead of tossing it, I read the whole thing.
I was 29 in 2004 and buying stocks in whatever amounts I could scrape together. I grabbed 10 shares of Advanced Micro Devices (NASDAQ: AMD) at about $15 each. People made fun of this buy around the water cooler, because Intel would surely crush the smaller challenger like a bug. I got out at $20 with a 33% gain in six months!
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
But because the $150 trade worked, I learned the wrong lesson from it. Then I applied that misunderstanding dozens of times in the next couple of years. With a long-term mindset, that modest $150 AMD investment would be worth $5,000 as of Sept. 10, 2026 (despite spending a decade underwater).
The hall of fame nobody visits
There were tons of misfires. Movie Gallery rented videos in a decade that was actively canceling the concept of renting videos. Advance Nanotech and Harris & Harris looked great because in 2005, "nanotech" did to me what "AI" does to people now. Most of the poor investments are lost to the sands of time, saved statements notwithstanding.
Then there was my diversification phase, and I want to be precise about how dumb this was. For a couple of years, I decided that diversification meant owning one company each from a bunch of different industries. A bank, a carmaker, and an oil company would be a good start, even if I didn't understand their businesses. I just liked that the categories were different.
Somewhere in there, I also tried options and short-selling, which is a bit like taking up recreational chainsaw juggling before you learn to juggle tennis balls. On the upside, I never risked much money in those experiments.
The boring answer, which is also the correct one
A few big winners more than made up for all the cash-burning losses.
My best bets were Alphabet, Netflix, and Intuitive Surgical. These picks actually made some fundamental sense. Alphabet's Google stood out as a durable winner from the start, when WebCrawler and AltaVista still felt modern. I wrote a deep dive on movie rentals in 2006, where Netflix was building distribution while Blockbuster was defending real estate. Intuitive Surgical's robots produced better patient outcomes than handheld scalpels.
The old me would have taken small profits and moved on. The real takeaway is that I learned to let the winners run for a long time. I still own all three, and each is up 1,000% or more.
Here is the annoying part. I did not need to pick those specific winners. The SPDR S&P 500 (NYSEMKT: SPY) had been sitting there since 1993, available to anyone with a brokerage account and a pulse. If I had just fed $300 per month into an automated SPY investment starting in 2005, that money would be worth about $300,000 today. That's $75,600 of cash contributions and roughly $220,000 of returns over 21 years. No stock research. No cleverness. Just showing up, including in 2008 and the COVID-19 lockdowns, when it looked like a mistake.
Time and compounding do the heavy lifting. Everything else is decoration. It took me an embarrassingly long time to figure that out, and I have an old paper statement in a drawer to prove it.
Should you buy stock in SPDR S&P 500 ETF Trust right now?
Before you buy stock in SPDR S&P 500 ETF Trust, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and SPDR S&P 500 ETF Trust wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $409,917!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,341,724!*
Now, it’s worth noting Stock Advisor’s total average return is 942% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 11, 2026.
Anders Bylund has positions in Alphabet, Intel, Intuitive Surgical, and Netflix. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Intel, Intuitive Surgical, and Netflix. The Motley Fool has a disclosure policy.

1 Thing I Wish I'd Known About the Stock Market When I First Started Investing

The S&P 500 Index ($SPX) (SPY) is up +0.87%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.97%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.77%. E-mini S&P futures (ESU26) are up +1.01%, and September E-mini Nasdaq futures (NQU26) are up +0.89%.
Stock indexes are trading higher today, supported by today’s decline of more than -3% in oil prices. The stock and bond markets took today’s CPI report largely in stride. The Aug core CPI of +0.3% m/m was slightly stronger than market expectations of +0.2%, but the nominal CPI of +0.4% m/m was in line with market expectations. T-note prices are trading mildly higher, even though the markets raised the odds of a FOMC rate hike next week to 88% from 75% on Thursday.
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Today’s Aug US CPI report of +0.4% m/m was in line with market expectations, but the core CPI report of +0.3% m/m was slightly stronger than market expectations of +0.2% m/m. On a year-on-year basis, the Aug CPI report of +3.4% y/y was unchanged from July and was in line with market expectations. Meanwhile, the Aug core CPI report of +2.4% y/y eased slightly from July’s +2.5% and posted a new 5.5-year low, and was in line with market expectations.
Today’s CPI report caused the markets to raise the odds for a +25 bp FOMC rate hike at next week’s meeting on September 15-16 to 88% from 75% on Thursday.
The US-Canada trade war continues to weigh on stock market sentiment. On Tuesday, Canada imposed tariffs of 15% to 50% on hundreds of US goods in retaliation for the US action last month to impose 50% tariffs on $20 billion of imports from Canada. The US responded by blocking imports of some Canadian products and slapping new tariffs on others, as well as seeking to bar Canadian companies from selling to US government contractors.
Oct WTI crude oil prices (CLV26) are down more than -3% today, giving back part of Thursday’s +6.7% surge to a 3.5-month high. Oil prices are still sharply higher on the week, but fell back today after the International Energy Agency today warned that high oil prices and restricted oil supply will cause the biggest drop in global oil demand this year since the Covid-19 pandemic.
There were reports that two ships were struck by unidentified projectiles near Oman on Thursday, presumably by Iran. Also, Axios reported that Saudi Crown Prince Mohammed bin Salman called President Trump twice on Thursday, asking him to launch a new military attack against the Houthis in Yemen, who are gaining control of more territory in Yemen near the critical Bab el-Mandeb Strait and have been striking Saudi oil facilities. Saudi Arabia told OPEC on Thursday that its crude production in August fell to 6.238 million bpd, the lowest since 1990.
Overseas stock markets are mixed. The Euro Stoxx 50 is up +0.81%. China's Shanghai Composite closed down -1.18%. Japan's Nikkei-225 Stock Average closed down -1.91%.
Interest Rates
December 10-year T-notes (ZNZ6) are up +4 ticks. The 10-year T-note yield is down -4.1 bp to 4.922%, following Thursday’s +11 bp surge to a 2.75-year high of 4.963%. T-note prices shook off the CPI report and the higher odds of an FOMC rate hike next week and are trading higher on today’s decline in oil prices. The 10-year break-even inflation expectations rate is down -2.6 bp to 2.390%, falling back from Thursday’s 3.25-month high of 2.42%.
European government bond yields are steady to lower. The 10-year German bund yield today posted a new 24-year high of 3.532% but then backed off and is little changed at 3.502%. The 10-year UK gilt yield edged to a 19-year high of 5.380% but then backed off and is down -4.4 bp at 5.329%.
Markets are discounting a 78% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29. The ECB at this week’s meeting raised its deposit facility rate by 25 bp to 2.50%, as expected, and said inflation will stay above 2% for an "extended period."
US Stock Movers
Oracle (ORCL) is up more than +2% after reporting late Thursday that its cloud infrastructure sales rose +121% to $7.4 billion, above the market consensus of $7.2 billion. Oracle’s co-CEO Clay Magouyrk said, “We are delivering data center and GPU capacity at a pace that would have seemed impossible only a year ago.” The company also said it sold more than $30 billion in AI cloud contracts during the latest quarter, higher than expectations. Fiscal-Q1 sales rose +30% and the adjusted EPS report of $1.92 per share was higher than market expectations of $1.75.
The positive Oracle news boosted other cloud infrastructure stocks, with Applied Digital (APLD) up +2%, and Coreweave (CRWV) up +1%.
Chipmakers are higher across the board on the positive Oracle news, with Qualcomm (QCOM) and Intel (INTC) up more than +3%.
The Magnificent Seven are all trading higher today, led by gains of more than +1% in Apple (AAPL), Amazon (AMZN), Alphabet (GOOGL), and Meta (META). Apple is seeing continued support after releasing its new iPhone Duo earlier this week, its first foldable phone.
Adobe (ADBE) is down 0.4% after providing slightly disappointing guidance, which fueled concerns that AI will cannibalize software revenue.
Dell Technologies (DELL) is up more than +8% after RBC Capital Markets started research coverage with an outperform rating and $640 price target based on expectations for strong AI infrastructure demand.
Earnings Reports (9/11/2026)
Kroger Co (KR) and Rent the Runway Inc (RENT).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stocks Shake Off CPI Report and Rally on Lower Oil Prices

Key Points
Applied Materials holds a dominant position in providing the essential equipment used to manufacture the world's most advanced chips.
Intel is aggressively transforming its business to become a major global foundry player through massive infrastructure investment.
Which semiconductor stock deserves a spot in your portfolio?
One company builds the tools, while the other builds the chips and the factories. Choosing between Applied Materials (NASDAQ:AMAT) and Intel (NASDAQ:INTC) means deciding where you see the most value.
Applied Materials provides the essential equipment used to manufacture semiconductors, making it a critical supplier to the entire industry. Intel is a traditional chipmaker shifting its focus toward becoming a global foundry. Comparing these two reveals different ways to play the growth of the technology sector.
The case for Applied Materials
In its latest annual report, Applied Materials describes itself as a leader in materials engineering solutions used to create nearly all new chips and advanced displays globally. Its business model relies on the ongoing expansion of global chip manufacturing capacity among semiconductor stocks. Customer concentration like this adds a layer of risk to the business, as two customers accounted for approximately 19% and 15% of net revenue in fiscal 2025.
In FY 2025, revenue reached nearly $28.4 billion, up roughly 4.4% compared to the prior year. The company reported net income of approximately $7 billion. While revenue grew, the net margin slightly decreased to about 24.7% from 26.4% in the previous fiscal year, reflecting slight shifts in the business mix.
As of its October 2025 balance sheet, the debt-to-equity ratio was nearly 0.3, which compares total debt to shareholder equity. The current ratio, which measures the ability to pay short-term obligations using liquid assets, was roughly 2.6. Free cash flow, calculated as cash from operations minus capital expenditures, was approximately $5.7 billion. This cash generation allows the company to invest in research while maintaining a strong financial position.
The case for Intel
Intel designs and manufactures its own chips while aggressively expanding its foundry services to build chips for other companies. In its latest annual report, the company detailed a major strategic shift to construct massive fabrication plants. This transition is capital-intensive and currently relies on a limited number of confirmed partners, with Tesla (NASDAQ:TSLA) being the only publicly confirmed 14A customer for these foundry services.
In fiscal 2025, revenue reached roughly $52.9 billion, essentially flat compared to the prior year. The company reported a net loss of approximately $267 million for the period. While still in the red, this result showed a significant improvement over the heavy net loss Intel posted in fiscal 2024, though net margin remained slightly negative at nearly -0.5%.
As of its December 2025 balance sheet, the debt-to-equity ratio was roughly 0.4. The current ratio was approximately 2, indicating the company holds twice as many current assets as current liabilities. Free cash flow was negative at nearly $4.9 billion, calculated as cash flow from operations minus capital expenditures. Note that stock-based compensation represented roughly 25.1% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.
Risk profile comparison
Applied Materials faces significant regulatory risks, particularly regarding U.S. export controls on technology sales to China. These restrictions led to a $252 million settlement in February 2026 for export violations involving Semiconductor Manufacturing International. The company also operates in a cyclical industry where demand for manufacturing equipment can fluctuate based on global economic health.
Intel carries significant financial risks following a $15 billion equity raise, which can dilute the value of shares held by existing investors. The company is also dealing with shareholder litigation regarding a 10% equity stake deal granted to the U.S. government. Operationally, it must manage heavy capital expenditure requirements while competing against Advanced Micro Devices (NASDAQ:AMD).
Valuation comparison
Intel appears cheaper based on sales, but Applied Materials carries a lower multiple relative to its future earnings estimates.
Metric
Applied Materials
Intel
Forward P/E
33.4
59.2
P/S ratio
12
8.5
Which stock would I buy in 2026?
Intel is in the middle of a significant business transformation, moving from solely designing its own chips to expanding its foundries to make chips for other companies. This push into contract manufacturing is expensive (those fabs aren't going to build themselves). You can see some evidence of that in the company's balance sheet: While Intel only lost around $267 million in fiscal 2025, it had a net loss of $18.8 billion the prior year. That might make some conservative investors nervous.
Meanwhile, Applied Materials is not currently pursuing any such capital-intensive strategy, and it hasn't reported a loss in at least 10 years. It pays a (very) modest dividend, while Intel suspended its dividend in 2024. And though investors know past performance is no indication of future results, Applied Materials stock has outperformed Intel shares by more than 1,200 percentage points over the past 10 years. Intel's returns haven't even kept pace with the S&P 500 over that time frame.
It would be silly to suggest a half-trillion-dollar company is going to go belly-up overnight, and I don't think that's what will happen to Intel. But the business is in a key transitional moment, and that always brings uncertainty. For that reason, I think Applied Materials is the more attractive buy here.
Should you buy stock in Applied Materials right now?
Before you buy stock in Applied Materials, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Applied Materials wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $410,024!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,372,815!*
Now, it’s worth noting Stock Advisor’s total average return is 950% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 11, 2026.
Erin Kennedy has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Applied Materials, Intel, and Tesla. The Motley Fool has a disclosure policy.

Applied Materials vs. Intel: Which Tech Stock Is a Better Buy in 2026?

Fintel reports that on September 10, 2026, Piper Sandler initiated coverage of Intel (NASDAQGS:INTC) with a Neutral recommendation.
Intel Corporation, based in the United States, is a formidable leader within the semiconductor industry. Primarily engaged in the design and manufacturing of computer components and related products, Intel's oeuvre spans processors, chipsets, and memory technology, among others. Key projects include the development of cutting-edge processor technologies such as the Core and Xeon series, significant advancements in AI-driven data analysis tools, and initiatives in autonomous vehicle technologies. Intel continually invests in research and development to maintain its competitive edge, emphasizing innovation in microarchitecture and integration technology. These endeavors support Intel's core mission to push the boundaries of smart and connected technology worldwide. Prior to this rating action, Intel's stock closed at $106.24 on September 9, 2026. This close represents a price change of +17.98% over one week, compared to a baseline close of $90.05 on September 2, 2026. Over a one-month period, the stock experienced a price change of +4.52% from a baseline close of $101.65 on August 7, 2026.
Separately from Piper Sandler's individual rating, aggregate market consensus data shows a current consensus target mean of $116.79 and a median target of $112.20 as of August 28, 2026. This mean target represents an implied change of +9.93% from the stock's previous levels. The prior consensus target mean was $114.12 as of August 4, 2026, reflecting a consensus target revision of +2.34%. In terms of analyst recommendations, as of the September 1, 2026 period, the consensus total of 55 recommendations consisted of 4 strong buy, 15 buy, 34 hold, and 2 sell ratings. In the prior period of August 1, 2026, the total of 55 recommendations included 4 strong buy, 15 buy, 33 hold, and 3 sell ratings.
Intel's latest earnings report, released on July 23, 2026, showed an actual EPS of 0.42 compared to an estimated EPS of 0.2177, representing an EPS surprise of +92.93%. The company's actual revenue for the quarter was $16,128,000,000,000,000.00, compared to an estimated revenue of $14,705,531,729,000,000.00. Other recent analyst activities include Northland Capital Markets upgrading Intel from Market Perform to Outperform on September 8, 2026. Additionally, Mizuho maintained its Neutral rating on September 4, 2026, and UBS maintained its Neutral rating on August 12, 2026.
Recent analyst actions
Recent analyst upgrades, downgrades, initiations, and maintained ratings
Date
Analyst
Prior
Latest recommendation
Action
September 10, 2026
Piper Sandler
Neutral
initiated coverage
September 8, 2026
Northland Capital Markets
Market Perform
Outperform
upgrade
September 4, 2026
Mizuho
Neutral
Neutral
maintained
August 12, 2026
UBS
Neutral
Neutral
maintained
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.

Piper Sandler Initiates Coverage of Intel at Neutral

The S&P 500 Index ($SPX) (SPY) closed down -0.58% on Thursday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.60%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.08%. E-mini S&P futures (ESU26) fell -0.61%, and September E-mini Nasdaq futures (NQU26) fell -1.07%.
Stock indexes settled lower on Thursday, with the S&P 500 and Dow Jones Industrials dropping to 5-week lows. Soaring energy prices pushed global bond yields sharply higher on Thursday, weighing on stocks. WTI crude oil surged more than +6% on Thursday to a 3.5-month high amid fears that the US-Iran war will persist, increasing inflation risks and prompting the world’s central banks to keep raising interest rates. The 10-year UK Gilt yield jumped to a 19-year high today of 5.38%, the 10-year German Bund yield surged to a 17-year high of 3.51%, and the 10-year T-note yield rose to a 2.75-year high of 4.96%.
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Stocks added to their losses on Thursday, and T-note yields climbed further after US Aug PPI rose more than expected, signaling persistent price pressures, and after weekly jobless claims remained low, signaling labor market strength.
US weekly initial unemployment claims fell -1,000 to 206,000, close to expectations of 205,000 and signaling a stable labor market.
US Aug PPI final demand rose +5.4% y/y, stronger than expectations of +5.3% y/y. Aug PPI ex-food and energy rose +4.6% y/y, right on expectations.
US Aug existing home sales fell -2.0% m/m to a 14-month low of 3.98 million, right on expectations.
The escalating trade war between the US and Canada is also weighing on market sentiment. On Tuesday, Canada imposed tariffs of 15% to 50% on hundreds of US goods in retaliation for the US action last month to impose 50% tariffs on $20 billion of imports from Canada. The US responded by moving to block imports of some Canadian products and slapping new tariffs on others, as well as seeking to bar Canadian companies from selling to US government contractors.
Oct WTI crude oil prices (CLV26) surged more than +6% on Thursday to a 3.5-month high. Crude prices are climbing after Iran said that it is ready for a more intense war and will escalate counterstrikes if the US continues attacking its territory and infrastructure. The prospect of a lengthy conflict that limits crude supplies from the Middle East is underpinning crude oil prices. Crude oil prices added to their gains on Thursday after Saudi Arabia told OPEC that its crude production in August fell to 6.238 million bpd, the lowest since 1990.
The markets are discounting a 75% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets settled mixed on Thursday. The Euro Stoxx 50 dropped to a 6-week low and closed down -0.67%. China's Shanghai Composite closed down -0.43%. Japan's Nikkei-225 Stock Average closed up +0.20%.
Interest Rates
December 10-year T-notes (ZNZ6) closed down by -23 ticks. The 10-year T-note yield rose +10.7 bp to 4.948%. T-notes tumbled to a 2.75-year nearest futures low on Thursday, and the 10-year T-note yield rose to a 2.75-year high of 4.963%. T-notes sold off as crude oil prices surged, which boosted inflation expectations. WTI crude oil rose more than +6% on Thursday to a 3.5-month high, lifting the 10-year breakeven inflation rate to a 3.25-month high of 2.419%.
On the positive side for T-notes was the decline in US Aug existing home sales to a 14-month low. T-notes also found support on strong demand for the Treasury’s $22 billion auction of 30-year T-bonds that had a bid-to-cover ratio of 2.61, well above the 10-auction average of 2.40.
European government bond yields moved sharply higher on Thursday. The 10-year German bund yield jumped to a 17-year high of 3.508% and finished up +5.7 bp to 3.501%. The 10-year UK gilt yield soared to a 19-year high of 5.376% and finished up +11.2 bp to 5.374%.
The ECB, as expected, raised the deposit facility rate by 25 bp to 2.50% and said inflation will stay above 2% for an "extended period."
The ECB raised its 2026 Eurozone GDP forecast to +0.9% from a prior forecast of +0.8%, and kept its 2026 inflation ex-food and energy forecast unchanged at 2.5%.
Markets are discounting a 97% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI-infrastructure stocks retreated on Thursday, pressuring the broader market. CoreWeave (CRWV), Intel (INTC), and Lam Research (LRCX) closed down more than -5%, and Micron Technology (MU) and Western Digital (WDC) closed down more than -4%. Also, ARM Holdings (ARM), SanDisk (SNDK), Advanced Micro Devices (AMD), KLA Corp (KLAC), Marvell Technology (MRVL), and Applied Materials (AMAT) closed down more than -3%, and Nvidia(NVDA), ASML Holding NV (ASML), and Seagate Technology Holdings Plc (STX) closed down more than -2%.
Copper-producing stocks are falling today, with copper prices down more than -4% after Reuters reported that the White House has not yet made a decision on refined copper tariffs as it weighs concerns of higher prices raising manufacturing costs against the potential benefits of encouraging more domestic mining. Southern Copper (SCCO) closed down more than -7%, and Freeport-McMoRan (FCX) closed down more than -6%. Also, Rio Tinto Plc (RIO) closed down more than -4%, and Newmont Corp (NEM) closed down more than -2%.
Home builders and suppliers moved lower on Thursday after the 10-year T-note yield jumped to a 2.75-year high, pushing up mortgage rates and weighing on housing demand. Lennar (LEN), KB Home (KBH), and Builders Firstsource (BLDR) closed down more than -3%. Also, DR Horton (DHI) and Pulte Group (PHM) closed down more than -2%, and Toll Brothers (TOL) and Home Depot (HD) closed down more than -1%.
Cooper Cos (COO) closed down more than -14% to lead losers in the S&P 500 after reporting Q3 net sales of $1.07 billion, below the consensus of $1.10 billion, and cutting its full-year revenue forecast to $4.23 billion to $4.25 billion from a previous forecast of $4.29 billion to $4.32 billion, weaker than the consensus of $4.31 billion.
American Eagle Outfitters (AEO) closed down more than -13% after reporting Q2 comparable sales rose +6.00%, weaker than the consensus of +6.47%.
FactSet Research Systems (FDS) closed down more than -5% after OpenAI said it’s releasing ChatGPT for Financial Services, a new tool for investment bankers and equity researchers.
AeroVironment (AVAV) closed up more than +4% after reporting Q1 revenue of $480.5 million, stronger than the consensus of $455.8 million.
Apple (AAPL) closed up more than +3% to lead gainers in the Dow Jones Industrials after analysts were generally positive about the company’s new iPhone Duo, its first foldable phone.
Earnings Reports (9/11/2026)
Kroger Co/The (KR) and Rent the Runway Inc (RENT).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart

Stocks Settle Lower as Surging Crude Prices Boost Fed Rate Hike Chances

The NASDAQ 100 After Hours Indicator is up 5.01 to 29,108.52. The total After hours volume is currently 131,131,371 shares traded.
The following are the most active stocks for the after hours session:
Oracle Corporation (ORCL) is +10.17 at $163.11, with 6,842,103 shares traded. Smarter Analyst Reports: Oracle Posts Upbeat Q2 Results; Shares Jump
Intel Corporation (INTC) is +0.06 at $100.38, with 6,089,901 shares traded. INTC's current last sale is 89.63% of the target price of $112.
Nu Holdings Ltd. (NU) is +0.02 at $15.04, with 6,048,966 shares traded. NU's current last sale is 81.08% of the target price of $18.55.
Broadcom Inc. (AVGO) is +0.5406 at $361.37, with 4,724,460 shares traded. Over the last four weeks they have had 5 up revisions for the earnings forecast, for the fiscal quarter ending Oct 2026. The consensus EPS forecast is $3.46. As reported by Zacks, the current mean recommendation for AVGO is in the "buy range".
Ford Motor Company (F) is unchanged at $13.88, with 4,473,853 shares traded. F's current last sale is 92.53% of the target price of $15.
ACV Auctions Inc. (ACVA) is +3.0785 at $10.30, with 2,918,625 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Sep 2026. The consensus EPS forecast is $-0.02. ACVA's current last sale is 114.43% of the target price of $9.
Direxion Daily ORCL Bull 2X ETF (ORCU) is +1.0804 at $9.43, with 2,886,712 shares traded. This represents a 92.46% increase from its 52 Week Low.
Unity Software Inc. (U) is unchanged at $42.07, with 2,777,560 shares traded. As reported by Zacks, the current mean recommendation for U is in the "buy range".
Exelon Corporation (EXC) is unchanged at $43.39, with 2,747,180 shares traded. EXC's current last sale is 89.46% of the target price of $48.5.
Space Exploration Technologies Corp. (SPCX) is +0.12 at $148.30, with 2,628,670 shares traded. As reported by Zacks, the current mean recommendation for SPCX is in the "buy range".
Leverage Shares 2X Long ADBE Daily ETF (ADBG) is +0.005 at $4.08, with 2,601,241 shares traded. This represents a 56.92% increase from its 52 Week Low.
ExxonMobil Holdings Corporation (XOM) is -0.09 at $165.14, with 2,193,152 shares traded. XOM's current last sale is 97.14% of the target price of $170.

After Hours Most Active for Sep 10, 2026 : ORCL, INTC, NU, AVGO, F, ACVA, ORCU, U, EXC, SPCX, ADBG, XOM

Key Points
Nvidia notes that its Vera server CPU is poised for widespread adoption by customers.
The shrinking share of x86 server CPUs and Nvidia's entry into this market doesn't bode well for Intel and AMD.
Nvidia (NASDAQ: NVDA) has played a pioneering role in the field of artificial intelligence (AI) thanks to its graphics processing units (GPUs), whose massive parallel computing power has enabled the training of popular large language models (LLMs).
Importantly, Nvidia has maintained its dominance in the AI chip market, as evidenced by its recent results that showed a significant jump in revenue and earnings. The good news for Nvidia investors is that it is pulling the right strings to ensure that it continues to dominate this lucrative market. The company's entry into the server central processing unit (CPU) market is one such move, which has put this market's heavyweights -- Intel and Advanced Micro Devices -- on the defensive.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
AMD and Intel have a big reason to be worried right now
Server CPUs are in high demand right now, primarily due to the shift toward agentic AI and inference workloads in data centers. AMD notes that the server CPU market's revenue could increase at an annual rate of 50% through 2030, creating a $220 billion revenue opportunity by the end of the decade.
AMD and Intel have traditionally dominated the server CPU market. They manufacture chips based on the x86 architecture. However, the growing demand for agentic AI and inference workloads has triggered a shift toward Arm-based chips owing to their low power consumption and higher efficiency. Nvidia is capitalizing on this trend.
The AI bellwether's Vera server CPU is designed on Arm's architecture. The important thing to note is that Nvidia sees healthy demand for its stand-alone Vera server CPU. CFO Colette Kress remarked on Nvidia's August earnings call:
Today, we are in full production of our next-generation Vera CPU. As a stand-alone product, Vera expands our TAM even further. Vera completes agentic task, 1.8x faster on the spec benchmark and provides 5x the bandwidth per watt than any other data center CPU.
Kress added that the Vera CPU will be deployed by "every major hyperscaler, neocloud, AI lab, and system OEM." The company is already shipping this product to key customers and expects to sell $20 billion worth of Vera CPUs this year. What's more, Nvidia expects its Vera CPU revenue to double next year.
So, Nvidia's chip poses a clear threat to AMD and Intel, especially as the share of x86 server processors shrinks. Tom's Hardware noted in June that Arm-based servers account for 45% of the data center market's revenue share. Nvidia's prediction that its server CPU revenue will double next year suggests that Arm-based processors are on track to capture a larger share of this market, which doesn't bode well for Intel and AMD.
Nvidia's continued AI chip dominance and valuation should send the stock soaring
Nvidia stock has jumped just 21% in 2026, while AMD and Intel have clocked solid triple-digit gains. However, that could change in the future due to Nvidia's stronger growth and improving prospects.
Also, Nvidia is the better AI stock to buy in this cohort owing to its significantly cheaper valuation. It has a price-to-earnings ratio of 29, lower than AMD's reading of 122 and Intel's earnings multiple of 88.
Nvidia's significantly lower valuation suggests it has greater upside potential than Intel and AMD. Moreover, Nvidia's move into the server CPU market could stifle AMD and Intel's growth, giving investors another terrific reason to buy Nvidia stock before it steps on the gas.
Should you buy stock in Nvidia right now?
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Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Arm Holdings, Intel, and Nvidia. The Motley Fool has a disclosure policy.

An Nvidia Move Just Put AMD and Intel on the Defensive

The S&P 500 Index ($SPX) (SPY) is down -0.42% today, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.43%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.69%. E-mini S&P futures (ESU26) are down -0.40%, and September E-mini Nasdaq futures (NQU26) are down -0.65%.
Stock indexes are under pressure today, with the S&P 500 and Dow Jones Industrials dropping to 5-week lows. Soaring energy prices are pushing global bond yields higher today, weighing on stocks. WTI crude oil is up more than +3% today at a 3.5-month high amid fears that the US-Iran war will persist, increasing inflation risks and prompting the world’s central banks to keep raising interest rates. The 10-year UK Gilt yield rose to a 19-year high today of 5.36%, the 10-year German Bund yield climbed to a 15-year high of 3.50%, and the 10-year T-note yield rose to a 2.75-year high of 4.93%.
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Stocks added to their losses today, and T-note yields climbed further after US Aug PPI rose more than expected, signaling persistent price pressures, and after weekly jobless claims remained low, signaling labor market strength.
US weekly initial unemployment claims fell -1,000 to 206,000, close to expectations of 205,000 and signaling a stable labor market.
US Aug PPI final demand rose +5.4% y/y, stronger than expectations of +5.3% y/y. Aug PPI ex-food and energy rose +4.6% y/y, right on expectations.
US Aug existing home sales fell -2.0% m/m to a 14-month low of 3.98 million, right on expectations.
The escalating trade war between the US and Canada is also weighing on market sentiment. On Tuesday, Canada imposed tariffs of 15% to 50% on hundreds of US goods in retaliation for the US action last month to impose 50% tariffs on $20 billion of imports from Canada. The US responded by moving to block imports of some Canadian products and slapping new tariffs on others, as well as seeking to bar Canadian companies from selling to US government contractors.
Oct WTI crude oil prices (CLV26) are up more than +3% today at a 3.5-month high. Crude prices are climbing after Iran said that it is ready for a more intense war and will escalate counterstrikes if the US continues attacking its territory and infrastructure. The prospect of a lengthy conflict that limits crude supplies from the Middle East is underpinning crude oil prices. Crude oil prices added to their gains today after Saudi Arabia told OPEC that its crude production in August fell to 6.238 million bpd, the lowest since 1990.
The markets are discounting a 72% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets are mixed today. The Euro Stoxx 50 dropped to a 6-week low and is down -0.42%. China's Shanghai Composite closed down -0.43%. Japan's Nikkei-225 Stock Average closed up +0.20%.
Interest Rates
December 10-year T-notes (ZNZ6) are down by -17 ticks. The 10-year T-note yield is up +7.3 bp to 4.914%. T-notes tumbled to a 2.75-year nearest futures low, and the 10-year T-note yield rose to a 2.75-year high of 4.928%. T-notes are under pressure from higher crude oil prices, which are boosting inflation expectations. WTI crude oil is up more than +3% today at a 3.5-month high, lifting the 10-year breakeven inflation rate to a 3.25-month high of 2.408%. Supply pressures are also weighing on T-notes as the Treasury will auction $22 billion of 30-year T-bonds later today. T-notes added to their losses today after Aug PPI rose more than expected.
European government bond yields are moving higher today. The 10-year German bund yield climbed to a new 15-year high of 3.495% and is up +4.8 bp to 3.492%. The 10-year UK gilt yield rose to a 19-year high of 5.362% and is up +9.7 bp to 5.358%.
The ECB, as expected, raised the deposit facility rate by 25 bp to 2.50% and said inflation will stay above 2% for an "extended period."
The ECB raised its 2026 Eurozone GDP forecast to +0.9% from a prior forecast of +0.8%, and kept its 2026 inflation ex-food and energy forecast unchanged at 2.5%.
Markets are discounting a 77% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI-infrastructure stocks are sliding today, pressuring the broader market. CoreWeave (CRWV), Intel (INTC), and Lam Research (LRCX) are down more than -4%, and Micron Technology (MU), SanDisk (SNDK), and Western Digital (WDC) are down more than -3%. Also, ARM Holdings (ARM), Advanced Micro Devices (AMD), and Applied Materials (AMAT) are down more than -2%, and Nvidia(NVDA) is down more than 2% to lead losers in the Dow Jones Industrials.
Copper-producing stocks are falling today, with copper prices down more than -4% after Reuters reported that the White House has not yet made a decision on refined copper tariffs as it weighs concerns of higher prices raising manufacturing costs against the potential benefits of encouraging more domestic mining. Freeport-McMoRan (FCX) is down more than -7%, and Southern Copper (SCCO) is down more than -6%. Also, Rio Tinto Plc (RIO) is down more than -4%, and Newmont Corp (NEM) is down more than -2%.
Home builders and suppliers are retreating today after the 10-year T-note yield jumped to a 2.75-year high, pushing up mortgage rates and weighing on housing demand. Lennar (LEN) is down more than -4%, and DR Horton (DHI), Pulte Group (PHM), KB Home (KBH), and Builders Firstsource (BLDR) are down more than -3%. Also, Toll Brothers (TOL) is down more than -2%.
AeroVironment (AVAV) is up more than +10% to lead drone makers higher after reporting Q1 revenue of $480.5 million, stronger than the consensus of $455.8 million. Also, Red Cat Holdings (RCAT) is up more than +3%, and Defiance Drone and Modern Warfare ETF (JEDI), Aevex Corp (AVEX), Unusual Machines (UMAC), and Kratos Defense & Security Solutions (KTOS) are up more than +2%.
Cybersecurity stocks are climbing today, a supportive factor for stocks. Fortinet (FTNT) and Okta (OKTA) are up more than +2%, and CrowdStrike Holdings (CRWD), Palo Alto Networks (PANW), and SentinelOne (S) are up more than +1%.
American Eagle Outfitters (AEO) is down more than -14% after reporting Q2 comparable sales rose +6.00%, weaker than the consensus of +6.47%.
Cooper Cos (COO) is down more than -13% to lead losers in the S&P 500 after reporting Q3 net sales of $1.07 billion, below the consensus of $1.10 billion, and cutting its full-year revenue forecast to $4.23 billion to $4.25 billion from a previous forecast of $4.29 billion to $4.32 billion, weaker than the consensus of $4.31 billion.
Driven Brands Holdings (DRVN) is down more than -3% after Bank of America Global Research double-downgraded the stock to underperform from buy with a price target of $12.
Kymera Therapeutics (KYMR) is up more than +1% after Wolfe Research upgraded the stock to outperform from peer perform with a price target of $180.
Earnings Reports (9/10/2026)
Adobe Inc (ADBE), Copart Inc (CPRT), Macy's Inc (M), Oracle Corp (ORCL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stocks Retreat as 10-year T-note Yield Reaches New 2.75-year High

The S&P 500 Index ($SPX) (SPY) closed down -0.48% on Wednesday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.77%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.29%. E-mini S&P futures (ESU26) fell -0.46%, and September E-mini Nasdaq futures (NQU26) fell -0.30%.
Stock indexes retreated on Wednesday, with the Dow Jones Industrial Average falling to a 5-week low. The broader market was under pressure for a second day amid mounting inflation risks. WTI crude oil prices surged more than +3% today to a 3.25-month high amid escalating hostilities in the Middle East, heightening concerns about energy flows through the Strait of Hormuz. The surge in energy prices is boosting inflation expectations and pushing bond yields higher. The 10-year T-note yield rose to 4.85% on Wednesday, the highest in 2.75 years. The higher bond yields weighed on stocks.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
On the positive side, chipmakers and AI-infrastructure stocks gained on Wednesday. Energy producers also rose on stronger crude oil prices.
The escalating trade war between the US and Canada is also weighing on market sentiment. On Tuesday, Canada imposed tariffs of 15% to 50% on hundreds of US goods in retaliation for the US action last month to impose 50% tariffs on $20 billion of imports from Canada. The US responded by moving to block imports of some Canadian products and slapping new tariffs on others, as well as seeking to bar Canadian companies from selling to US government contractors.
US MBA mortgage applications fell -2.7% in the week ended September 4, with the purchase mortgage sub-index down -0.2% and the refinancing mortgage sub-index down -6.2%. The average 30-year fixed-rate mortgage rose +6 bp to a 14-month high of 6.85% from 6.79% in the prior week.
Oct WTI crude oil prices (CLV26) surged more than +3% on Wednesday to a 3.25-month high due to the latest escalation of hostilities in the Middle East. The US destroyed five Iranian tankers carrying crude in response to two attempts by Iran to hit US Navy ships with ballistic missiles. Iran responded by firing missiles at a US air base in Jordan and warning ships in the Persian Gulf that they would be attacked. Iran also said on Wednesday that it is ready for a more intense war and will escalate counterstrikes if the US continues attacking its territory and infrastructure.
The markets are discounting a 61% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets settled mixed on Wednesday. The Euro Stoxx 50 fell to a 5-week low and closed down -1.58%. China's Shanghai Composite closed up +0.28%. Japan's Nikkei-225 Stock Average closed down -0.19%.
Interest Rates
December 10-year T-notes (ZNZ6) closed down by -7.5 ticks on Wednesday. The 10-year T-note yield rose +4.5 bp to 4.833%. T-notes fell to a 20-month nearest-futures low on Wednesday, and the 10-year T-note yield rose to a 2.75-year high of 4.853%. T-notes are under pressure from higher crude oil prices, which are boosting inflation expectations, as WTI crude oil rose more than +3% on Wednesday to a 3.25-month high. T-notes added to their losses on Wednesday after the Treasury announced that it will buy back up to $6 billion in longer-dated US Treasuries, below expectations of at least $10 billion.
T-notes recovered from their worst level on Wednesday amid strong demand for the Treasury’s $39 billion auction of 10-year T-notes. The auction had a bid-to-cover ratio of 2.71, well above the 10-auction average of 2.49.
European government bond yields moved higher on Wednesday. The 10-year German bund yield climbed to a new 15-year high of 3.444% and finished up +7.8 bp on that high. The 10-year UK gilt yield rose +8.8 bp to 5.261%.
French July manufacturing production unexpectedly fell -0.8% m/m, weaker than expectations of a +0.4% m/m increase.
Markets are discounting a 100% chance of a +25 bp ECB rate hike at Thursday’s policy meeting.
US Stock Movers
Telecommunication and cable providers moved lower on Wednesday, led by a -6% fall in Comcast (CMCSA), which led losers in the Nasdaq 100 after CFO Armstrong said he sees no improvement in Q3 broadband subscriber losses. Charter Communications (CHTR) also fell more than 8%, and Verizon Communications (VZ) and AT&T (T) closed down more than 1%.
Chipmakers and AI-infrastructure stocks moved higher on Wednesday, limiting losses in the overall market. Marvell Technology (MRVL) closed up more than +4%, and Advanced Micro Devices (AMD) closed up more than +3%. Also, Micron Technology (MU) closed up more than +2%, and ARM Holdings (ARM), Western Digital (WDC), SanDisk (SNDK), Intel (INTC), Texas Instruments (TXN), and Qualcomm (QCOM) closed up more than +1%.
Energy producers and service providers rallied on Wednesday after WTI crude oil rose more than +3% to a 3.25-month high. APA Corp (APA) and ExxonMobil Holdings (XOM) closed up more than +2%. Also, Chevron (CVX), Devon Energy (DVN), Diamondback Energy (FANG), Occidental Petroleum (OXY), ConocoPhillips (COP), and Valero Energy (VLO) closed up more than +1%.
ServiceTitan (TTAN) closed down more than -29% after reporting a Q2 EPS loss of -26 cents, a bigger loss than the consensus of -25 cents.
Casy’s General Stores (CASY) closed down more than -14% to lead losers in the S&P 500 after reporting a Q1 gross margin of 21.8%, below the consensus of 22.3%.
Chewy (CHWY) closed down more than -10% after forecasting a sequential decline in Q3 gross margin, due to a timing shift as certain rebate benefits shifted from the second half of the year into Q2.
Smithfield Foods (SFD) closed down more than -6% after cutting its Q3 earnings outlook, citing “continued compression in the industry fresh pork market spread and lower hog prices.”
Dyne Therapeutics (DYN) closed down more than -5% after JPMorgan Chase downgraded the stock to underweight from neutral with a price target of $10.
Booking Holdings (BKNG) closed down more than -3% after losing an EU court fight over its takeover of Sweden’s Etraveli Group, when a judge said regulators were right to conclude that the planned buyout threatened fair competition.
Chime Financial (CHYM) closed up more than +7% after boosting its full-year revenue forecast to $2.76 billion to $2.77 billion from a previous forecast of $2.73 billion to $2.75 billion, stronger than the consensus of $2.74 billion.
Meta Platforms (META) closed up more than +6% after analysts reported positive reviews of the company’s debut of Muse, an AI assistant.
HP Inc (HPQ) closed up more than +3% after announcing a pact with Red Hat on an AI platform.
Sysco (SYY) closed up more than +2% after raising its mid-term financial targets for fiscal years 2028 and 2029 to annualized net sales growth of 4% to 7%, up from a previous view of 4% to 6%.
Earnings Reports (9/10/2026)
Adobe Inc (ADBE), Copart Inc (CPRT), Macy's Inc (M), Oracle Corp (ORCL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.