Intel Corp. (NASDAQ: INTC) shares rose more than 3% on Wednesday as the stock benefited from broader strength in the technology sector. The Nasdaq Composite gained 0.78%, while the S&P 500 rose 0.51%. Technology stocks led all 11 S&P 500 sectors with a gain of 0.97%.

The filing notes that Intel has maintained strong longer-term momentum, with the stock gaining approximately 256% over the past 12 months. At the time of publication, Intel shares were up 3.08% at $119.50.

Intel’s foundry business is highlighted as a potential growth avenue. Counterpoint Research reports that Intel Foundry revenue rose 31% year over year in the second quarter, marking the strongest growth among non-memory integrated device manufacturers. Analysts suggest Intel and Samsung Electronics are gaining traction as chip customers seek additional supply sources beyond Taiwan Semiconductor Manufacturing Company (TSM). Intel has also secured a contract from Alphabet’s Google to adopt Intel’s EMIB-T packaging technology for its next-generation tensor processing unit.

Technical analysis indicates the stock is trading above its major moving averages, including the 20-day simple moving average of $108.72 and the 200-day simple moving average of $80.35. The stock is about 9.9% above the 20-day SMA and 48.6% above the 200-day SMA. The 20-day SMA remains above the 50-day SMA, and the 50-day SMA is above the 200-day SMA, which the source describes as an established uptrend.

Looking ahead, Intel’s next earnings report is estimated for Oct. 22, 2026. Wall Street analysts expect earnings of 39 cents per share, up from 23 cents a year earlier. Revenue is estimated at $16.41 billion, compared with $13.65 billion a year earlier. Intel carries a Hold consensus rating with an average price forecast of $114, though forecasts range from $80 to $155 across 50 analysts.

The stock is held by several semiconductor-focused ETFs, including the iShares Semiconductor ETF (SOXX), Invesco Semiconductors ETF (PSI), and State Street SPDR NYSE Technology ETF (XNTK). Intel represents about 5.68% of SOXX, 5.71% of PSI, and 5.98% of XNTK.