Intel Shares Surge 24%—Breaking Dot-Com Record After Earnings Fuel Turnaround Optimism

BreakingBusinessIntel Shares Surge 24%—Breaking Dot-Com Record After Earnings Fuel Turnaround OptimismByTy Roush,Forbes Staff. Ty Roush is a breaking news reporter based in New York City.Follow AuthorApr 24, 2026, 09:53am EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.ToplineIntel shares surged to an all-time high on Friday, surpassing a record set during the dot-com bubble decades earlier, after the chipmaker’s latest earnings exceeded Wall Street’s expectations and fueled optimism for the company’s turnaround. The chipmaker’s shares, in the midst of a yearslong turnaround, matched a 26-year high earlier this month.Getty ImagesKey FactsShares of Intel rallied 24.4% to over $83 as trading opened on Friday, well above the stock’s previous intraday high of $75.81 on Aug. 28, 2000.Intel on Thursday reported first-quarter revenue of $13.57 billion and $0.29 earnings per share, smashing consensus analyst estimates of $12.4 billion and $0.02, according to FactSet.The chipmaker projected second-quarter revenue between $13.8 billion and $14.8 billion and earnings per share of $0.20, beating projections of $13.7 billion and $0.19.CEO Lip-Bu Tan said in a statement that Intel had undergone a “reset,” resulting in a sixth-straight quarter of revenue above the company’s expectations as well as “new and deepened relationships with strategic partners.”Stifel analysts lifted their price target for Intel’s shares and said the company “significantly beat expectations,” noting they remain encouraged by Intel’s "solid execution” in recent quarters as its turnaround has been “significant.” if (!window.cnxel) { window.cnxel = {}; window.cnxel.cmd = []; var iframe = document.createElement('iframe'); iframe.style.display = 'none'; iframe.onload = function() { var iframeDoc = iframe.contentWindow.document; var script = iframeDoc.createElement('script'); script.src = '//cd.elements.video/player.js?cid=62cec241-7...