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 Corporation

The S&P 500 Index ($SPX) (SPY) on Thursday closed up by +0.21%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up by +1.34%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down by -0.35%. December E-mini S&P futures (ESZ25) rose +0.23%, and December E-mini Nasdaq futures (NQZ25) fell -0.33%.
Stock indexes settled mixed on Thursday, with the S&P 500 posting a 6-week high and the Dow Jones Industrials climbing to a new all-time high. The broader market found underlying support on Thursday after bond yields moved lower amid a jump in weekly jobless claims, which is dovish for Fed policy. Also, managed healthcare stocks staged a rally on Thursday, a supportive factor for the overall market, and Visa shares surged more than +6% to boost the Dow Jones Industrial Average.
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However, the Nasdaq 100 fell to a 1-week low due to a sell-off in Oracle, which is viewed as a bellwether of the AI investment boom. Oracle tumbled more than 10% on Thursday, leading AI-infrastructure shares lower, after reporting Q2 cloud sales that missed estimates and raising its 2026 capital spending outlook by $15 billion to $50 billion. Oracle’s results reignited worries about tech valuations and whether the capital outlays on AI infrastructure will pay off.
US weekly initial unemployment claims rose by +44,000 to a 3-month high of 236,000, showing a weaker labor market than expectations of 220,000.
The US Sep trade deficit unexpectedly shrank to -$52.8 billion versus expectations of a widening to -$63.1 billion and the smallest deficit in 5.25 years.
The markets are discounting a 24% chance that the FOMC will cut the fed funds target range by 25 bp at the January 27-28 FOMC meeting.
Q3 corporate earnings season is drawing to a close as 496 of the 500 S&P companies have released results. According to Bloomberg Intelligence, 83% of reporting S&P 500 companies exceeded forecasts, on course for the best quarter since 2021. Q3 earnings rose +14.6%, more than doubling expectations of +7.2% y/y.
Overseas stock markets settled mixed on Thursday. The Euro Stoxx 50 rallied to a 4-week high and closed up +0.80%. China’s Shanghai Composite closed down -0.70%. Japan’s Nikkei Stock 225 closed down -0.90%.
Interest Rates
March 10-year T-notes (ZNH6) on Thursday closed up by +7.5 ticks. The 10-year T-note yield fell -0.6 bp to 4.141%. T-notes found support on Thursday on positive carryover from Wednesday when the FOMC cut its 2025 and 2026 US core PCE price estimates, and Fed Chair Powell said that he doesn't think a rate hike is anybody's base case for the Fed's next policy move. T-notes held their gains after weekly jobless claims unexpectedly rose to a 3-month high, a dovish factor for Fed policy. Decent demand for the Treasury’s $22 billion auction of 30-year T-bonds was also positive for T-notes as the auction had a bid-to-cover ratio of 2.36, right on the 10-auction average.
European government bond yields are moving lower today. The 10-year German bund yield fell -0.7 bp to 2.843%. The 10-year UK gilt yield fell -2.2 bp to 4.484%.
Swaps are discounting a 1% chance for a -25 bp rate cut by the ECB at its next policy meeting on December 18.
US Stock Movers
Cruise line operators moved higher on Thursday. Royal Caribbean Cruises Ltd (RCL) closed up more than +7% to lead gainers in the S&P 500. Also, Norwegian Cruise Line Holdings (NCLH) closed up more than +6%, and Carnival (CCL) closed up more than +5%
Managed healthcare stocks rallied on Thursday. Elevance Health (ELV) closed up more than +5%, and Centene (CNC) and Molina Healthcare (MOH) closed up more than +4%. Also, Humana (HUM) and Cigna Group (CI) closed up more than +3%. In addition, HCA Healthcare (HCA) and UnitedHealth Group (UNH) closed up more than +2%.
Fertilizer stocks rose on Thursday after Ukraine said its drones attacked two fertilizer plants in western Russia. Mosaic (MOS) closed up more than +6%, and Intrepid Potash (IPI) closed up more than +5%. Also, CF Industries Holdings (CF) closed up more than +2%.
Chip makers retreated on Thursday, weighing on the Nasdaq 100. ARM Holdings Plc (ARM), Intel (INTC), and Marvell Technology (MRVL) closed down more than -3%. Also, Nvidia (NVDA), Broadcom (AVGO), Applied Materials (AMAT), GlobalFoundries (GFS), and Micron Technology (MU) closed down more than -1%.
Oracle (ORCL) closed down more than -10% to lead losers in the S&P 500 after reporting Q2 adjusted revenue of $16.06 billion, below the consensus of $16.21 billion, and raising its 2026 capital spending outlook by $15 billion to $50 billion.
Oxford Industries (OXM) closed down more than -21% after cutting its 2026 adjusted EPS forecast to $2.20-$2.40 from a previous estimate of $2.80-$3.20, well below the consensus of $2.91.
Lovesac Co (LOVE) closed down more than -8% after cutting its 2026 net sales forecast to $685 million-$705 million from a previous forecast of $710 million-$740 million, weaker than the consensus of $713.7 million.
Stellantis NV (STLA) closed down more than -3% after BNP Paribas Exane downgraded the stock to underperform from neutral.
Intuitive Surgical (ISRG) closed down more than -1% after Citigroup downgraded the stock to neutral from buy.
Gemini Space Station Inc (GEMI) closed up more than +31% after the company’s application for a derivatives exchange was approved by the Commodity Futures Exchange Commission.
Ciena Corp (CIEN) closed up more than +8% after reporting Q4 revenue of $1.35 billion, better than the consensus of $1.29 billion.
Visa (V) closed up more than +6% to lead gainers in the Dow Jones Industrials after Bank of America Global Research upgraded the stock to buy from neutral with a price target of $382.
Abercrombie & Fitch (ANF) closed up more than +2% after Goldman Sachs initiated coverage on the stock with a buy recommendation and a price target of $120.
West Pharmaceutical Services (WST) closed up more than +1% after Nephron Research LLC upgraded the stock to buy from hold with a price target of $367.
Earnings Reports(12/12/2025)
Johnson Outdoors Inc (JOUT), SR Bancorp Inc (SRBK), Value Line Inc (VALU).
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Most Stocks Recover from Oracle Sell-Off

Key Points
Oracle's debt is rising as cash flies out the door to fund AI data centers.
The company already has a debt-heavy balance sheet, and it will need to borrow more to fund its AI infrastructure contracts.
Investors have soured on the stock as debt concerns intensify.
Tech giant Oracle (NYSE: ORCL) has racked up remaining performance obligations, which represent future revenue expected to be generated from signed contracts, totaling $523 billion. The company added $68 billion to the backlog in the second quarter of fiscal 2026 alone, signing new deals for AI infrastructure with Meta Platforms, Nvidia, and other customers.
Oracle's deals to provide AI infrastructure require the company to build expensive data centers filled with powerful GPUs before any revenue is recognized. Oracle entered the AI boom with a debt-heavy balance sheet, and the situation is worsening as the company borrows to fuel its AI ambitions.
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Burning cash and piling up debt
For the six-month period ending Nov. 30, Oracle generated $10.2 billion in operating cash flow and used $20.5 billion for capital expenditures. That works out to a negative free cash flow of $10.3 billion. Capital spending more than tripled year-over-year during the period as Oracle plowed ahead with its capital-intensive AI strategy.
Oracle has spent years piling up debt to fund share buybacks, which raises the risk level of adding even more debt to the balance sheet. Thanks to heavy spending on AI infrastructure, Oracle ended the second quarter with about $108 billion in debt. That's up from $92.6 billion in May. The company completed an $18 billion bond sale in September.
Oracle stock was tumbling on Thursday following the release of its second-quarter report. If the company can successfully convert its AI infrastructure backlog into revenue over the next few years, its revenue growth is expected to accelerate dramatically. However, the upfront cost is enormous. Additionally, there's a risk related to OpenAI, which reportedly has a $300 billion AI infrastructure contract with Oracle. If OpenAI struggles to raise sufficient funding or generate enough revenue as competition intensifies, Oracle could be left holding the bag.
How high will Oracle's debt go?
Analysts at KeyBanc Capital Markets estimated in September that Oracle may need to add $100 billion in debt over the next four years to fund its OpenAI contract. Oracle management addressed this concern during theearnings call with co-CEO Clay Magouyrk saying that "based on what we see right now, we expect we will need less if not substantially less, you know, money raised than that amount."
Oracle has a few tools at its disposal, including deals where customers bring their own chips. The company could also work with private equity firms or other third parties, similar to a deal Intel struck with Brookfield Infrastructure Partners to fund its Arizona semiconductor fab. Magouyrk insisted during theearnings callthat Oracle was committed to maintaining its investment-grade debt rating.
While the jury's still out on how much debt Oracle will need to fulfill its contracts, investors have been registering their opinions in recent weeks by sending the stock tumbling. Oracle's AI growth story is falling on deaf ears, and it's hard to say what it will take to shift sentiment in a positive direction.
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Timothy Green has positions in Intel. The Motley Fool has positions in and recommends Intel, Meta Platforms, Nvidia, and Oracle. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Oracle's Debt Balloons to $108 Billion as AI Spending Soars

The S&P 500 Index ($SPX) (SPY) today is down up +0.05%, the Dow Jones Industrials Index ($DOWI) (DIA) is up by +1.25%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down by -0.52%.
Stock indexes are mixed today, with the Nasdaq 100 falling to a 1-week low and the Dow Jones Industrials climbing to a new all-time high. The broader market is under pressure today after Oracle's earnings, viewed as a bellwether of the AI investment boom, came in worse than expected, fueling concerns about the vast spending tied to artificial intelligence. Shares of Oracle are down more than -12% to lead AI stocks lower after it reported Q2 cloud sales that missed estimates and raised its 2026 capital spending outlook by $15 billion to $50 billion. Oracle’s results reignited worries about tech valuations and whether the capital outlays on AI infrastructure will pay off.
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Stocks have underlying support from a jump in weekly jobless claims to a 3-month high, which knocked bond yields lower. The 10-year T-note yield is down -4 bp to 4.11%. Also, a +3% rally in Visa shares today is boosting the Dow Jones Industrial Average.
US weekly initial unemployment claims rose by +44,000 to a 3-month high of 236,000, showing a weaker labor market than expectations of 220,000.
The US Sep trade deficit unexpectedly shrank to -$52.8 billion versus expectations of a widening to -$63.1 billion and the smallest deficit in 5.25 years.
The markets are discounting a 24% chance that the FOMC will cut the fed funds target range by 25 bp at the January 27-28 FOMC meeting.
Q3 corporate earnings season is drawing to a close as 495 of the 500 S&P companies have released results. According to Bloomberg Intelligence, 83% of reporting S&P 500 companies exceeded forecasts, on course for the best quarter since 2021. Q3 earnings rose +14.6%, more than doubling expectations of +7.2% y/y.
Overseas stock markets are mixed today. The Euro Stoxx 50 rallied to a 4-weekhigh and is up +1.07%. China’s Shanghai Composite closed down -0.70%. Japan’s Nikkei Stock 225 closed down -0.90%.
Interest Rates
March 10-year T-notes (ZNH6) today are up by +13 ticks. The 10-year T-note yield is down -3.1 bp to 4.116%. T-notes are climbing today as weakness in stocks has prompted some safe-haven buying of government debt. T-notes also have carryover support from Wednesday when the FOMC cut its 2025 and 2026 US core PCE price estimates, and Fed Chair Powell said that he doesn't think a rate hike is anybody's base case for the Fed's next policy move. T-notes held their gains after weekly jobless claims unexpectedly rose to a 3-month high, a dovish factor for Fed policy. Supply pressures may limit further upside in T-notes ahead of the Treasury’s $22 billion auction of 30-year T-bonds later today.
European government bond yields are moving lower today. The 10-year German bund yield is down by -0.6 bp to 2.845%. The 10-year UK gilt yield is down by -3.4 bp to 4.472%.
Swaps are discounting a 1% chance for a -25 bp rate cut by the ECB at its next policy meeting on December 18.
US Stock Movers
Oracle (ORCL) is down more than -12% to lead the S&P 500 losers, and AI-infrastructure stocks are lower today after reporting Q2 adjusted revenue of $16.06 billion, below the consensus of $16.21 billion, and raising its 2026 capital spending outlook by $15 billion to $50 billion. CoreWeave (CRWV) is down more than -7%, and Nebius Group NV (NBIS) is down more than -4% on the news.
Chip makers are sliding today, weighing on the broader market. ARM Holdings Plc (ARM) and Marvell Technology (MRVL) are down more than -4%. Also, Advanced Micro Devices (AMD), Nvidia (NVDA), and Broadcom (AVGO) are down more than -3%. In addition, Intel (INTC), Applied Materials (AMAT), GlobalFoundries (GFS), KLA Corp (KLAC), Micron Technology (MU), and Lam Research (LRCX) are down more than -2%.
Cryptocurrency-exposed stocks are under pressure today with Bitcoin (^BTCUSD) down more than -2%. Strategy (MSTR) is down more than -6% to lead losers in the Nasdaq 100. Also, Riot Platforms (RIOT) and MARA Holdings (MARA) are down more than -5%, Coinbase Global (COIN) is down more than -4%, and Galaxy Digital Holdings (GLXY) is down more than -3%.
Fertilizer stocks are moving higher today after Ukraine said its drones attacked two fertilizer plants in western Russia. Mosaic (MOS) is up more than +6% to lead gainers in the S&P 500. Also, Intrepid Potash (IPI) is up more than +4%, and CF Industries Holdings (CF) and FMC Corp (FMC) are up more than +3%.
Oxford Industries (OXM) is down more than -22% after cutting its 2026 adjusted EPS forecast to $2.20-$2.40 from a previous estimate of $2.80-$3.20, well below the consensus of $2.91.
Lovesac Co (LOVE) is down more than -13% after cutting its 2026 net sales forecast to $685 million-$705 million from a previous forecast of $710 million-$740 million, weaker than the consensus of $713.7 million.
Stellantis NV (STLA) is down more than -3% after BNP Paribas Exane downgraded the stock to underperform from neutral.
Intuitive Surgical (ISRG) is down more than -1% after Citigroup downgraded the stock to neutral from buy.
Gemini Space Station Inc (GEMI) is up more than +17% after the company’s application for a derivatives exchange was approved by the Commodity Futures Exchange Commission.
Ciena Corp (CIEN) is up more than +6% after reporting Q4 revenue of $1.35 billion, better than the consensus of $1.29 billion.
Visa (V) is up more than +3% to lead gainers in the Dow Jones Industrials after Bank of America Global Research upgraded the stock to buy from neutral with a price target of $382.
Unity Software (U) is up more than +2% after Piper Sandler upgraded the stock to overweight from neutral with a price target of $59.
JB Hunt Transport Services (JBHT) is up more than +2% after Deutsche Bank upgraded the stock to buy from hold with a price target of $227.
West Pharmaceutical Services (WST) is up more than +1% after Nephron Research LLC upgraded the stock to buy from hold with a price target of $367.
Earnings Reports(12/11/2025)
Broadcom Inc (AVGO), Ciena Corp (CIEN), Costco Wholesale Corp (COST), Lululemon Athletica Inc (LULU), RH (RH).
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Dow Jumps to New Highs as Fed Cut, Oracle Miss Fuel Shift from Tech to Value Stocks

Rule-Breaking Stocks for Your Holiday Shopping List

Intel Corporation INTC and Pinterest, Inc. PINS are two major players in the technology sector with key expertise in their respective domains. Intel, reportedly the world’s largest semiconductor company and primary supplier of microprocessors and chipsets, is gradually reducing its dependence on the PC-centric business by moving into data-centric businesses, such as AI and autonomous driving. The foundry operating model is a key component of the company's strategy, designed to reshape operational dynamics and drive greater transparency, accountability and focus on costs and efficiency.
Pinterest provides a platform to show its users (called Pinners) visual recommendations (called Pins) based on their tastes and interests. Users then save and organize these recommendations into collections (called Boards). Pinterest generates revenue by delivering ads on its website and mobile application. The company is helping advertisers reach millennials and Gen Z audiences who are more active on immersive mobile platforms.
Let us delve a little deeper into the companies’ competitive dynamics to understand which of the two is relatively better placed in the broader industry.
The Case for Intel
Intel is expanding its manufacturing capacity to accelerate its IDM 2.0 (Integrated Device Manufacturing) strategy. It is making various strategic decisions to gain a firmer footing in the expansive AI sector. The company has previewed Intel Core Ultra series 3 processor (code-named Panther Lake) and Xeon 6+ (code-named Clearwater Forest) in third-quarter 2025. Manufactured in a new, state-of-the-art factory in Chandler, AZ, both products are built on Intel 18A, the most advanced semiconductor process in the United States. Panther Lake is designed to power a broad spectrum of consumer and commercial AI PCs, gaming devices and edge solutions. Clearwater Forest is an E-core server processor that enables business enterprises to scale workloads, reduce energy costs and power more intelligent services. While Panther Lake will be available in the broad market from January, Clearwater Forest is slated to be launched in the first half of 2026.
Intel's innovative AI solutions are set to benefit the broader semiconductor ecosystem by driving down costs, improving performance and fostering an open, scalable AI environment. The company has received $7.86 billion in direct funding from the U.S. Department of Commerce for its commercial semiconductor manufacturing projects under the U.S. CHIPS and Science Act. Intel has secured a $5 billion investment from NVIDIA Corporation NVDA to jointly develop cutting-edge solutions that are likely to play an integral role in the evolution of the AI infrastructure ecosystem. Softbank also invested $2 billion in Intel to propel AI research and development initiatives that support digital transformation, cloud computing and next-generation infrastructure. The funds will support Intel in advancing critical semiconductor manufacturing and advanced packaging projects in Arizona, New Mexico, Ohio and Oregon, likely paving the way for innovation and growth.
However, Intel derives a significant part of its revenues from China. As Washington tightens restrictions on high-tech exports to China, Beijing has intensified its push for self-sufficiency in critical industries. This shift poses a dual challenge for Intel, as it faces potential market restrictions and increased competition from domestic chipmakers. The company is also lagging in the GPU and AI front compared to peers such as NVIDIA and Advanced Micro Devices, Inc AMD. Leading technology companies are reportedly piling up NVIDIA’s GPUs to build clusters of computers for their AI work, leading to exponential revenue growth.
The Case for Pinterest
Pinterest is increasingly establishing a unique value proposition for advertisers that could provide a competitive advantage in the long run. Through various innovations, it continues to dramatically improve the advertising platform, which appears to be one of the best ad platforms for consumer discretionary brands seeking new ways to reach customers and stretch smaller ad budgets. Pinterest’s Verified Merchants Program allows brands to create a catalog of shoppable products on the app and use special retargeting capabilities in their ads.
The company’s focus on improving operational rigor and incorporating sophisticated AI (artificial intelligence) models to enhance relevancy and personalization is likely to bring long-term benefits. Pinterest is also emphasizing building new ad tools and formats to help grow the scope of monetization on the platform. This will enable advertisers to measure the results and conversion rates, which will improve their decision-making. It has partnered with Amazon.com, Inc. AMZN to further capitalize on the commercial intent of its user base and increase shoppability on its platform. The buyout of the AI-powered, high-tech fashion-shopping platform, The Yes, has enabled it to create a strategic organization to help steer the evolution of its features and merchants.
However, Pinterest expects operating expenses to increase substantially in the near term as it expands operations domestically and internationally, enhancing product offerings, broadening user and advertiser base, expanding marketing channels, hiring additional employees and developing technology. Increased infrastructure spending related to user and engagement growth is likely to result in higher costs of revenue. In addition, Pinterest faces significant competition from larger, more established companies and smaller firms, which offer users engaging content and commerce opportunities through similar technology, products and services.
How Do Zacks Estimates Compare for INTC & PINS?
The Zacks Consensus Estimate for Intel’s 2025 sales implies a year-over-year decline of 1.3%, while that of EPS indicates growth of 346.2%. The EPS estimates have been trending northward (up 128.6%) on average over the past 60 days.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Pinterest’s 2025 sales indicates year-over-year growth of 16.1%, and that of EPS suggests an increase of 25.6%. The EPS estimates have been trending southward (down 10%) over the past 60 days.
Image Source: Zacks Investment Research
Price Performance & Valuation of INTC & PINS
Over the past year, Intel has surged 96.2% compared with the industry’s growth of 32.4%. Pinterest has declined 9.9% over the same period.
Image Source: Zacks Investment Research
Intel looks more attractive than Pinterest from a valuation standpoint. Going by the price/sales ratio, Intel’s shares currently trade at 3.61 forward sales, lower than 3.91 for Pinterest.
Image Source: Zacks Investment Research
INTC or PINS: Which is a Better Pick?
Intel carries a Zacks Rank #3 (Hold), while Pinterest carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Both companies expect their earnings to improve in 2025. Intel predicts a decline in revenues, contrary to Pinterest. Over the years, Pinterest has shown steady revenue and EPS growth, while Intel has been facing a downtrend. However, Pinterest is a bit expensive in terms of valuation metrics compared with Intel. In addition, Intel offers exposure to foundational tech in computing and AI infrastructure, which are increasingly gaining traction. Intel has a VGM Score of B. With a superior Zacks Rank, Intel seems to be a better investment option at the moment.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

INTC vs. PINS: Which Tech Stock Deserves a Spot in Your Portfolio?

Key Points
ASML's High‑NA EUV systems are essentially the only path to next‑generation chips, giving it unmatched pricing power and strategic importance.
To justify a trillion-dollar valuation, net income would need to rise to $19 billion, achievable if High‑NA adoption and margins scale.
Analysts are bullish, and timelines point to a possible 2034 to 2036 target, but execution, cycle risk, and geopolitical/export constraints are key caveats.
ASML Holdings (NASDAQ: ASML) is positioned in one of the most lucrative sectors in tech. The Dutch company has spent four decades developing its High-Numerical Aperture (NA) extreme ultraviolet (EUV) machines, which are used to produce the most powerful chips for data centers.
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TSMC's, Intel's, and Samsung's foundries use ASML's lithography systems to manufacture high-performance semiconductors. The machines work by vaporizing droplets of molten tin in a vacuum chamber by striking them with laser beams 50,000 times per second, turning the tip droplets into a superheated plasma that emits EUV light, which is used to print microscopic patterns onto silicon wafers. That's the kind of tech that investors love.
And with data center demand increasing day by day, ASML is well on its way to joining the trillion-dollar club.
How is ASML's stock performing?
As of Dec. 8, ASML trades around $1,100 per share. It's up 62% year to date, 58% over the last 52 weeks, and around 143% over the previous five years.
The stock trades at a price-to-earnings ratio of 36, slightly below the industry average of 40. Meanwhile, its price-to-sales ratio is around 10, a reasonable multiple for tech manufacturers.
But the best part of this growth story is still ahead.
What could propel ASML even higher?
The company's next-generation technology that uses High-NA EUV has the potential to propel ASML's valuation in excess of $1 trillion. These machines increase the numerical aperture from 0.33 to 0.55, allowing them to print even smaller and more complex patterns than the previous generation of EUV machines. And each system is said to cost a cool $380 million.
These High-NA systems allow chipmakers to produce powerful processors that cannot be manufactured any other way. Period.
In fact, ASML already dominates the EUV market. It supplies machines to major chipmakers such as Intel, Samsung, and TSMC. And the High-NA EUV systems are practically the only path forward for next-generation chips. Even China, with significant state investment, hasn't been able to replicate ASML's technology.
Justifying the entry to the $1 trillion club
There's an undeniable market demand for ASML's tech. However, reaching the $1 trillion mark requires fundamental justification. Otherwise, we're just hoping for runaway valuations.
Today, ASML's market cap is around $432 billion. The company pulled in about $31 billion in top-line revenue in 2024, with about $8.19 billion flowing to the bottom line.
In order for ASML to reach a trillion-dollar valuation, the company will need to grow its bottom line to nearly $19 billion (~131%). This is because, all things being equal, stocks often move in a similar direction to their earnings growth. That way, it reaches the $1 trillion mark with similar P/E and P/S ratios.
If ASML maintains its position in the EUV lithography, hitting $67 billion in revenue isn't unreasonable. If I'm right, the timeline should fall between 2034 and 2036, given that the semiconductor sector is growing at about 8% to 10% annually and ASML's High-NA EUV ramp-up is just beginning. And if the company can accelerate revenue and improve margins, the timeline shortens further.
What do the analysts think about ASML?
Wall Street sees an opportunity here; a consensus among 25 analysts rates ASML stock a strong buy with an average score of 4.56 out of 5, and the rating has been relatively stable over the past three months. I agree.
ASML controls the most critical equipment that enables advanced AI chips, and the industry has no choice but to adopt High-NA technology, as there are literally no alternatives. Combining those factors creates a clear path to much higher valuations.
Should you invest $1,000 in ASML right now?
Before you buy stock in ASML, consider this:
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Rick Orford has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends ASML, Intel, and Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Prediction: This AI Chipmaker Will Join the Trillion-Dollar Club

Key Points
Shares of Intel surged in September after a big investment from chipmaker Nvidia.
In addition, the Trump administration has taken a 10% stake in the business.
Intel, however, has incurred an operating loss in two of its past three quarters.
After a disastrous year in 2024 when shares of Intel (NASDAQ: INTC) crashed by more than 60%, you probably wouldn't have expected such a sharp turnaround in its fortunes this year. But that's exactly what has happened. As of Dec. 5, Intel's year-to-date gain was 107%, putting it on track for one of its best years in decades.
These types of gains aren't typical for Intel; the company hasn't been much of a growth stock in recent years. While it remains a big name in tech, its market cap is around $190 billion, which puts it well behind the biggest names in the sector.
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The big question, however, is whether that valuation is too high for the business, or if Intel could be due for even greater gains next year, and if it can build on its impressive rally.
What has been driving Intel's surge this year?
Intel's stock didn't really take off until around September, shortly after management announced it had reached what was called a "historic agreement" with the Trump administration that would see the U.S. government take a 10% stake in the business.
The government has been looking for ways to increase chip production domestically to reduce its reliance on foreign countries, and Intel has looked like an obvious path to do so. And by investing in the tech company, that may have given the stock some added safety and security, at least in the eyes of retail investors.
A bigger catalyst, however, came in mid-September when chipmaker Nvidia announced it would be investing $5 billion in the company. That resulted in the stock skyrocketing more than 22% in a single day, which was Intel's best performance since 1987. Investors were thrilled with the news, even though the agreement doesn't appear to suggest that Nvidia will manufacture its chips using Intel's foundry.
The company's fundamentals remain a concern
The reasons for Intel's rise in value are mainly speculative, relying on the hope that its business will improve and grow. Unfortunately, it's not due to its own fundamentals, and that's a cause for concern, because when a stock's rally is based on speculation, it can make it a volatile investment to hang on to.
The company has incurred an operating loss in two of the past three quarters. And its foundry business experienced a 2% decline in revenue for the most recent period (which ended on Sept. 27), while incurring a $2.3 billion loss.
The stock is trading at a forward price-to-earnings multiple of 57, which is based on analyst estimates. That's a high premium for a business that's struggling to grow and that still needs to prove it can get out of the red on a consistent basis.
Investors shouldn't count on a repeat performance in 2026
The last time Intel's stock doubled was in 2003 when it rose by 106%, and that was also after a big crash in the previous year, when it lost more than half of its value. The stock may do better than it did back then, because this year could be its best performance since 1996, when shares rose by 131%.
But as well as the stock has done of late, investors shouldn't expect these types of gains to continue next year. In 1997, following its large rally, shares rose by just 7%. And in 2004, after doubling the previous year, they would go on to fall by 27%.
The past doesn't predict the future, but the mammoth rally for Intel this year has truly been exceptional and a rarity for the stock. If the business were in the midst of a successful turnaround, I could see why it may continue to rally next year, but that isn't the case. There's still ample risk here, especially with its valuation being as high as it is.
Intel's stock is riding high right now, but investors shouldn't expect these types of gains to continue in 2026, since they have largely been due to speculation rather than fundamentals.
Should you invest $1,000 in Intel right now?
Before you buy stock in Intel, 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 Intel 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 $521,550!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,133,904!*
Now, it’s worth noting Stock Advisor’s total average return is 981% — a market-crushing outperformance compared to 194% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of December 8, 2025
David Jagielski, CPA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Intel and Nvidia. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Intel Stock Is on Track for Its Best Year Since 1996. Can Its Rally Continue Next Year?

Key Points
Analysts believe that Intel stock could dip in the coming year.
However, there are signs that its turnaround will continue in 2026, and that could set the stock up for another strong year.
Intel (NASDAQ: INTC) stock's fortunes have turned around impressively over the past six months. Shares of the company have shot up a remarkable 106% during this period, as investors have been buying the stock hand over fist in anticipation that its deal with Nvidia (NASDAQ: NVDA) will help it make a dent in the artificial intelligence (AI) chip market.
That's not surprising, as Nvidia is the biggest player in AI chips. So, when Nvidia announced in September that it would be investing $5 billion in Intel and jointly developing custom data center and personal computer (PC) chips with the latter, investor confidence in the stock shot up. However, it does seem that Intel stock may have gotten ahead of itself.
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After all, the company's financial performance is yet to pick up, and it has become quite costly from a valuation perspective. Will these factors weigh on Intel stock in 2026? Let's try to find out and check where Chipzilla could be trading after a year.
Analysts aren't expecting any gains from Intel in the coming year
Intel is now trading at a whopping 690 times trailing earnings. The forward earnings multiple of 56 isn't cheap either, compared to the tech-laden Nasdaq-100 index's average forward earnings multiple of 26. Of course, Chipzilla is expected to clock a massive improvement in its bottom line this year, reaching $0.34 per share, compared to a loss of $0.13 per share in 2024, but its cost-cutting efforts mainly drive that.
Intel said last year that it planned to save $10 billion in 2025 by cutting 15,000 jobs, or 15% of its workforce. However, it is actually on track to slash 25,000 jobs this year.
The fact that Intel's revenue remained almost stagnant in the first nine months of 2025, as compared to the year-ago period, suggests that it is yet to make the most of the massive revenue opportunity in semiconductors. The cost optimization efforts are expected to drive a 75% increase in Intel's bottom line next year, but that doesn't make it worth buying, according to analysts.
Out of 47 analysts who cover Intel, only 11% rate it as a buy. The majority, at 70%, rate Intel as a hold, while the remaining suggest that it is time to sell this semiconductor stock. The 12-month median price target of $39 suggests a potential 6% decline from current levels.
However, there are a few catalysts that could help Intel sustain its rally in 2026.
Here's why the stock may head higher despite the valuation
The good news for Intel is that the demand for its advanced chips is outpacing supply in both the PC and the data center markets. The company's client computing group (CCG) revenue was up by 8% quarter over quarter in Q3. Intel benefited from healthy PC demand during the quarter, a trend that could continue in 2026 thanks to AI-capable PCs.
Intel management sees 2026 as another strong year for the PC market. That won't be surprising as AI PC sales are expected to jump by 83% next year. On the other hand, Intel points out that some of its "data center customers are beginning to ask about longer-term strategic supply agreements to support their business goals due to the rapid expansion of AI infrastructure."
Given that Intel's Arizona fab, which produces chips based on the advanced Intel 18A process, is now fully operational, there is a chance that it may be able to overcome the supply constraints and clock stronger-than-expected growth in 2026. Analysts seem to be anticipating something similar, as they have raised their expectations for Intel.
The chart above tells us that Intel's growth is expected to pick up slightly next year, followed by a bigger jump in 2027. But there is a possibility that it could outpace analysts' expectations thanks to its partnership with Nvidia, which can open up new avenues for Intel in the PC and data center markets. That's why the market could continue to reward Intel with a premium valuation, paving the way for potential upside in 2026.
For instance, even if Intel manages to clock a slightly stronger increase of 5% in its top line in 2026 to $55.2 billion, which would be a nice improvement over this year's estimated drop of 1%, its market cap could hit $304 billion after a year (assuming a sales multiple of 5.5, in line with the Nasdaq Composite index's average sales multiple).
However, investors should remember that Intel will have to continue demonstrating that its business is turning around, or else the stock will lose momentum in 2026.
Should you invest $1,000 in Intel right now?
Before you buy stock in Intel, 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 Intel 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 $521,550!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,133,904!*
Now, it’s worth noting Stock Advisor’s total average return is 981% — a market-crushing outperformance compared to 194% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of December 8, 2025
Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Intel and Nvidia. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Prediction: This Will Be Intel's Stock Price in 2026

Key Points
Nebius is expected to experience a faster increase in revenue next year, driven by its huge backlog.
The company's capacity expansion plans should support its revenue growth ramp-up in 2026.
Though the stock is expensive, it is still capable of rising impressively in the coming year due to the significant sales increase it is poised to deliver.
Nebius Group (NASDAQ: NBIS) has made investors significantly richer in the past year. An investment of just $100 in shares of this neocloud company is now worth just over $266.
The 166% gains that Nebius achieved during this period have been fueled by the growing demand for artificial intelligence (AI) computing power in data centers. It's in the business of setting up dedicated AI data centers equipped with powerful graphics processing units (GPUs) from Nvidia, as well as server processors from AMD and Intel, to deliver high-performance computing.
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But can the company sustain its red-hot rally in the coming year, especially considering concerns about the heavy spending on AI infrastructure? Let's find out.
Nebius' business model should supercharge its growth next year
Nebius rents out its computing power to customers that require it to run AI workloads, store AI-related data in the cloud, train large language models (LLMs), develop custom AI solutions, and execute AI inference solutions. More importantly, the company goes beyond just providing the hardware. It is a full-stack AI company offering managed software services that enable customers to build and fine-tune models and inference applications.
As such, it is in a position to capitalize on two key aspects of the AI market.
First, hyperscalers and AI companies are seeking to acquire computing power to run AI workloads in the cloud. There is a deficit in available AI computing power, which is why major cloud computing companies aren't able to fulfill their contracts. As a result, the contractual backlogs of these companies have skyrocketed.
Second, an increasing number of businesses, governments, and AI companies are likely to develop and deploy AI applications, both for their in-house use and for customers. That's because the technology is driving productivity gains for companies adopting it. Market research firm IDC estimates that each $1 spent on AI in 2030 could generate $4.60 in value.
This should pave the way for Nebius to keep growing at a blistering pace in the coming year, given the full-stack nature of its services. Its revenue in the first nine months of 2025 shot up by 437% to $302 million. Moreover, Nebius also reduced its adjusted net loss by 61% during this period to $170 million.
Management expects to achieve annualized run-rate revenue of $7 billion to $9 billion by the end of 2026. It calculates this metric by multiplying the revenue in the final month of the quarter by 12. This means sales in December 2026 could be as high as $750 million. That's significantly higher than what the company has generated so far in 2025.
For comparison, Nebius is expected to close 2025 with $556 million in revenue, up by 374% from last year. Analysts expect an acceleration in its top-line growth to $3.3 billion in 2026.
Nebius' revenue, therefore, could jump sixfold next year. This ambitious target seems achievable because the company has landed a couple of huge contracts from Meta Platforms and Microsoft that are likely to supercharge its growth in 2026. These two companies alone have created a revenue backlog of more than $20 billion for the company.
As a result, Nebius now plans to increase its connected data center capacity to a range of 800 megawatts (MW) to 1 gigawatt by the end of 2026. That would be a major increase over the 220 MW of connected power that it's projecting by the end of 2025. This major capacity expansion should support the incredible revenue growth that analysts are expecting from the company next year.
But will this blistering growth be enough to send the stock higher?
Investors may be worried about one thing
The stock's stunning rally in the past year is the reason it's now trading at a costly 65 times sales. That's way higher than the U.S. technology sector's average price-to-sales ratio (P/S) of 9.
But then, Nebius' red-hot growth, which is set to get better next year, justifies its valuation. In fact, the company's forward sales multiples are significantly lower due to the huge growth that it is expected to deliver.
Even if Nebius trades at a significantly discounted 10 times sales (almost in line with the tech sector's average) next year and delivers $3.3 billion in revenue, its market cap could hit $33 billion. That points toward potential gains of 33% from current levels. However, this AI stock could deliver more than that since it is likely to enjoy a premium valuation due to its huge backlog, which could help it beat Wall Street's revenue expectations for 2026.
Should you invest $1,000 in Nebius Group right now?
Before you buy stock in Nebius Group, 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 Nebius Group 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 $521,550!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,133,904!*
Now, it’s worth noting Stock Advisor’s total average return is 981% — a market-crushing outperformance compared to 194% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of December 8, 2025
Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Intel, Meta Platforms, Microsoft, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Where Will Nebius Stock Be in 1 Year?

In early trading on Wednesday, shares of Axon Enterprise topped the list of the day's best performing components of the Nasdaq 100 index, trading up 4.5%. Year to date, Axon Enterprise has lost about 3.9% of its value.
And the worst performing Nasdaq 100 component thus far on the day is MercadoLibre, trading down 3.8%. MercadoLibre is showing a gain of 17.4% looking at the year to date performance.
Two other components making moves today are Intel, trading down 3.4%, and Warner Bros Discovery, trading up 3.5% on the day.
VIDEO: Nasdaq 100 Movers: MELI, AXON
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Index	Bulls	Bears
Confidence
Support
Cash flows

	S/L 5%RUB 38.74	S/L 10%RUB 36.70	S/L 15%RUB 34.66
Day	12.15%	0.15%	0.00%
Week	48.86%	15.48%	2.82%
Month	73.54%	48.76%	28.43%

Intel Corporation

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