Wall Street expects robust revenue growth driven by AI and data center demand, though the stock's recent slide may prove harder to reverse
Intel is gearing up to release its second-quarter 2026 earnings after the bell. Wall Street consensus puts Intel’s Q2 EPS at roughly $0.22, with revenue projected around $14.42 billion. That revenue figure would represent meaningful sequential growth from the $13.58 billion Intel booked in Q1 2026, and it falls comfortably within the company’s own Q1 guidance range of $13.8 to $14.8 billion.
The numbers look good on paper #
Intel’s Q1 2026 set a surprisingly optimistic tone. The company posted $0.29 EPS that quarter, beating earlier estimates. Data Center & AI revenue grew 22% year-over-year to $5.05 billion in Q1, a segment that has become the centerpiece of Intel’s pitch to Wall Street.
The EPS estimate of $0.22 is actually lower than the $0.29 Intel delivered in Q1. In English: analysts expect Intel to make more money overall but less per share, which could signal margin compression or accounting adjustments that deserve scrutiny when the actual filing drops.
A rough July tells a different story #
Strong earnings projections haven’t insulated Intel’s stock from a tough month. Shares have faced persistent downward pressure throughout July 2026, caught in a broader market downturn that has hit tech names particularly hard.
The company also announced layoffs within its data center division during July, part of a wider effort to streamline operations and cut costs.
Intel discontinued its Blockscale Bitcoin mining chip series back in April 2023 after the product line failed to gain meaningful traction in a crowded market.
The government’s massive unrealized bet #
One of the more unusual dynamics surrounding Intel right now involves the US government, which reportedly holds an unrealized gain of approximately $26.5 billion on its Intel stake. That figure surged following the company’s strong Q1 performance.
What this means for investors #
Investors should pay close attention to three things when the numbers land: gross margin trajectory, forward guidance for Q3, and any commentary on the foundry business pipeline.
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