Intel (NASDAQ:INTC) Stock Slips as Qualcomm Passes - ’Not An Option Today’

Intel's stumble hands Qualcomm an open lane in the semiconductor race.

Market Shakeup

Qualcomm just executed a clean bypass maneuver while Intel wrestles with legacy architecture and manufacturing delays. Investors aren't waiting around—they're voting with their portfolios.

Execution Over Legacy

The move highlights a brutal truth in tech: past glory means nothing without present execution. Intel's roadmap looks increasingly like a relic, while competitors charge ahead with next-gen designs.

Wall Street's Cold Shoulder

Another day, another reminder that sentiment doesn't move share prices—cold, hard performance does. Guess those analyst upgrades don't write themselves after all.

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Cristiano Amon, current CEO of Qualcomm, noted that Intel’s production output was not yet good enough for Qualcomm to turn to for its mobile phone processor needs. However, Qualcomm was willing to step in and buy from Intel if Intel could improve its manufacturing techniques and make more efficient chips overall.

Amon noted, “Intel is not an option today. We WOULD like Intel to be an option.” Qualcomm also offered some insight on how it designs chips, noting “We design all of our chips assuming there’s a battery on the other side, not plugged into the wall. You have all the computing power and you still get incredible range.” It is unclear if Intel’s 18A or upcoming 14A processes can meet Qualcomm’s needs.

2026 Will Be Huge

Meanwhile, Intel is looking to the future to deliver significant improvements in its chips, potentially enough to get even Qualcomm interested. In fact, Intel is already calling 2026 a “critical” year for manufacturing technology, as it should know in the first half of the year whether it is ready to launch the 14A production method.

However, Intel will only actually build the 14A manufacturing capability if there is sufficient business in line for it. This would be a good time to reach out to Qualcomm again, assuming the 14A process can produce the level of chip quality that Qualcomm needs here.

Is Intel a Buy, Hold or Sell?

Turning to Wall Street, analysts have a Hold consensus rating on INTC stock based on one Buy, 25 Holds and three Sells assigned in the past three months, as indicated by the graphic below. After a 30.28% rally in its share price over the past year, the average INTC price target of $22.34 per share implies 8.41% downside risk.

Disclosure