INTC Stock Pulls Back After Sharp Rally Amid Weakening Chip Demand and Margin Pressures
Intel Corporation (NASDAQ: INTC) shares are experiencing a pullback after a significant rally, trading down by -6.13% amid reports of weakening chip demand and margin pressures.
The sharp move higher in Intel stock has been attributed to its transition from being a sleepy old chip giant to a high-beta momentum name. Over the last couple of weeks, INTC's price surged from the low $90s to above $100, closing at $102.94 on 2026/09/11 after a series of strong sessions.
However, this rally has been followed by a 2.1% premarket dip, which points to traders locking in gains rather than a clear trend reversal. The chart shows INTC repeatedly finding support in the high $80s to low $90s and breaking out through $100 with expanding ranges.
The news of Apple's guidance to Mac App Store developers, allowing them to drop support for Intel-based Macs tied to macOS 13 and beyond, adds pressure on INTC to prove that data center, foundry, and AI-related revenue will outweigh the slow bleed of older PC and Mac-related business.