What Is Going On With Intel Stock on Thursday?

Intel Corp. (NASDAQ:INTC) shares were down about 1% Thursday morning after falling nearly 5% earlier in the session, as semiconductor stocks came under pressure following a major leadership upheaval at NVIDIA Corp. (NASDAQ:NVDA).

The pullback pointed to broader caution across chip and growth stocks rather than an Intel-specific development. The Nasdaq-tracking QQQ was down 0.12% and the Russell 2000-tracking IWM was off 0.87% in late-morning trading.

Nvidia CEO Transition Weighs on Chip Sector

NVIDIA said Jensen Huang resigned effective immediately as president, CEO and a board member.

The company named CFO Colette Kress interim CEO while the board searches for a permanent successor. NVIDIA shares were down 5.05% at $164.95 in late-morning trading after an 8.4% premarket drop.

NVIDIA also kept its fiscal third-quarter 2027 earnings report scheduled for Nov. 17.

Nvidia Is an Intel Partner and Shareholder

NVIDIA and Intel are strategic partners that also compete in parts of the semiconductor market.

The companies are jointly developing multiple generations of data-center and PC products, while Nvidia agreed to invest $5 billion in Intel common stock in September 2025 and reported holding about 214.8 million Intel shares in a February filing.

That relationship gives Intel exposure to NVIDIA’s broader product strategy while the companies continue to compete across certain chip categories.

Technical Picture Remains Weak

Intel trades at $61.92, about 17.7% below its 20-day simple moving average (SMA) of $75.22 and 29.1% below its 200-day SMA of $87.34.

The stock therefore remains below major short- and long-term trend indicators.

The 20-day SMA also sits below the 50-day SMA, reinforcing weakness in the intermediate trend after the stock’s earlier advance.

Analyst Outlook

Intel carries a Hold consensus rating with an average price forecast of $96.33.

Recent analyst actions include:

• Wedbush: Maintained Neutral while lowering its forecast to $75 on Oct. 30
• UBS: Maintained Neutral while lowering its forecast to $80 on Oct. 30
• Freedom Broker: Downgraded Intel to Hold and lowered its forecast to $90 on Oct. 30

ETF Exposure

Intel carries an 8.56% weighting in the iShares Semiconductor ETF (NASDAQ:SOXX), a 5.64% weighting in the Invesco Semiconductors ETF (NYSE:PSI) and a 5.65% weighting in the State Street SPDR NYSE Technology ETF (NYSE:XNTK).

Those positions leave Intel exposed to broader semiconductor fund flows alongside company-specific developments and changes in sentiment across the AI chip sector.

Price Action

INTC Price Action: Intel shares were down 0.93% at $61.92 at the time of publication Thursday, according to Benzinga Pro data.

Photo: Tada Images / Shutterstock