Intel is ripping higher after posting a major Q1 2026 beat and delivering an upbeat Q2 setup that forced investors to reprice near-term earnings power. The company reported non-GAAP EPS of $0.29 versus a roughly $0.01 expectation and issued Q2 revenue guidance of $13.8 billion to $14.8 billion, ahead of the around $13 billion that the market had been modeling. (intc.com)

While Intel still recorded a GAAP loss in the quarter, the market’s focus has been on the magnitude of the adjusted profitability surprise and the strength of the forward revenue range. Intel’s Q2 midpoint implies a step-up in demand versus what analysts had penciled in, and management pointed to improving execution, including better-than-expected progress on yields for new process nodes. (intc.com)

The rally now puts pressure on Intel to convert stronger demand and yield improvements into durable margin expansion and a clearer path to improved cash generation. The next catalysts are management’s detail around product mix and data center momentum, plus any incremental commentary on manufacturing performance and the pace of cost absorption as volumes rise. (intc.com)