INTC Stock Takes a Breather After Sharp Rally

Intel Corporation's (INTC) stock has pulled back after a sharp rally, with a decline of -2.41% in premarket trading. This comes on the heels of a powerful 9.1% surge in the prior session, which was likely driven by profit-taking and intraday games.

The recent chart action shows a strong multi-day uptrend with fast swing ranges, creating fertile ground for short-term trading setups in both directions. However, the fundamentals look messy but improving in cash terms, with INTC posting $52.85B in annual revenue and generating $7.01B in operating cash flow in the latest quarter.

Apple's decision to drop support for Intel-based Macs in certain macOS 13+ apps is another reminder that the Mac business is gone and not coming back. This news reinforces the idea that traders are now focusing more on data center, foundry ambitions, and AI-related demand rather than Apple hardware.