Intel CEO’s $10 million stock bet is down nearly $1 million ahead of earnings

The FCC granted Intel a one-year waiver for specific automated guided vehicles (AGVs) at its U.S. semiconductor facilities. The waiver allows hardware, software, and firmware changes described in Intel's request, subject to conditions. Intel must keep the vehicles under its control and within its facilities, and the changes cannot alter specified radio-frequency characteristics or functionality. The waiver aims to prevent disruption to domestic semiconductor manufacturing.

Intel will manufacture a chip for Tesla using its 14A process, though the specific chip remains undisclosed. Intel aims to prove its foundry capabilities against competitors like TSMC and Samsung. Tesla may use the chip for AI or infotainment systems, with production potentially starting around 2028. Intel also announced a $20 billion equity raise for factory expansion.

Loop Capital downgraded Apple to Hold, cutting its price target to $330 and lowering iPhone revenue forecasts. JPMorgan upgraded Intel to Neutral, citing balanced risk-reward. Citi initiated a positive Catalyst Watch on SpaceX, highlighting upcoming catalysts. Mizuho reiterated Outperform on Lam Research, recommending buying on pullback. Yardeni Research noted an AI bubble but said it's not yet close to bursting.

The FCC granted Intel a one-year waiver to use foreign-made robotics in its U.S. semiconductor production. The waiver allows Intel to continue operating its Automated Guided Vehicles (AGVs), which are critical to its chip manufacturing. Intel cited a lack of domestic alternatives and the potential disruption to its supply chain if it had to replace the AGVs. The FCC's quick approval and Intel's importance to U.S. chip manufacturing plans are noted.

Intel (INTC) guided Q3 revenue of $15.8B–$16.8B and adjusted EPS of $0.38, following a Q2 GAAP loss of $2.16 per share. The company is shifting wafer capacity from PC chips to servers to meet AI demand and is building Fab 62 in Arizona. Susquehanna cut Intel's price target to $105 from $115. Intel shares rose 1.76% on Friday.

Intel (INTC) shares rebounded to $85 after falling from $127, supported by a JPMorgan upgrade to Neutral. The stock gained 3% post-upgrade, trading above JPM's $85 target. Q2 revenue was $16.1B, exceeding guidance, but challenges remain. Export restrictions and semiconductor sector weakness add uncertainty. Analysts have mixed targets, with Tigress raising to $145 and Northland to $120. CEO's share purchase and AI-related opportunities provide potential upside.