Intel Just Broke a 15-Year-Old Company Record. Is the Comeback for Real?

Intel’s stock has surged about 150% in 2026, yet it remains well below its peak, after falling roughly 35% from an all-time high reached at the end of June. The company’s recent results included a turnaround signal highlighted by Q2 revenue growth of 25%, Intel’s best since 2011, and foundry revenue growth of 31%. Even so, shares fell after the report, reflecting continued investor caution. The market is pricing Intel at about 60x forward earnings (46x next year’s), and the high valuation may limit upside until the turnaround proves out over several quarters.