Intel Beats Expectations in Latest Earnings Report | Closing Bell

Watch on YouTube ↗  |  July 23, 2026 at 20:17  |  7:31  |  Bloomberg Markets
Speakers
Katie Greifeld — Anchor, Bloomberg
Carol Massar — Anchor, Bloomberg
Tim Stenovec — Anchor/Co-Host, Bloomberg TV & Radio

Summary

US equities sold off on Thursday, pressured by disappointing megacap tech earnings and a surge in oil prices. Intel reported second-quarter results that beat estimates and raised its outlook, with the CEO citing AI-driven demand. Intel shares rallied in after-hours trading, while the semiconductor ETF SMA edged higher, signaling easing fears for the sector.

  • S&P 500, Nasdaq, and Dow all closed lower, with communication services and consumer discretionary leading declines.
  • Megacap tech selloff followed earnings from Alphabet, Tesla, and IBM after Wednesday's close.
  • Oil prices jumped, with Brent briefly above $100 and WTI up more than 5%, stoking inflation concerns.
  • Intel Q2 revenue and adjusted EPS beat estimates, and Q3 revenue guidance came in well above consensus.
  • CEO Lipton highlighted AI driving unprecedented demand and rapid production improvements in the foundry business.
  • Intel shares rose over 8% in the aftermarket, reversing some of the month's steep losses.
  • The semiconductor ETF SMA gained about 1%, as investors perceived the worst fears might be off the table for chip stocks.
Ideas
Katie Greifeld Anchor, Bloomberg 5:17
Intel turnaround executing, demand exceeds supply.
Intel is executing its turnaround, with demand outpacing supply (a good problem to have), fueled by AI data center demand, foundry progress, and a strong Q2 beat with raised guidance.
INTC MED
Carol Massar Anchor, Bloomberg 6:28
Semiconductor recovery, worst fears fading.
After Intel's positive results, worst fears for semiconductor stocks may be off the table, and investors are dipping back into the sector, as seen in the SMA semiconductor ETF.
SMH MED
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This Bloomberg Markets video, published July 23, 2026, features Katie Greifeld, Carol Massar discussing INTC, SMH. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Katie Greifeld, Carol Massar  · Tickers: INTC, SMH