📊 PRO: This Week in Visuals
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Today at a glance:
🏭 Intel: Fifteen-Year High
⚡ GE Vernova: Capacity Bet
⚙️ Texas Instruments: Pricing Lever
💳 Amex: Platinum Premium
📶 T-Mobile US: Momentum Cools
🌐 IBM: Mainframe Air Pocket
📡 Verizon: Subsidy Pullback
🏦 Schwab: The Volatility Dividend
📞 AT&T: Volume Over Price
🛰️ Lockheed Martin: The Missile Surge
🧑💻 ServiceNow: Growth Without Credit
💼 Moody’s: Volume Over Mix
🚗 GM: Pricing Over Volume
🍕 Domino’s: Ticket Miss
🦅 American Airlines: Fuel Eats The Record
🍿 AMC: The Odyssey Delivers
1. 🏭 Intel: Fifteen-Year High
Intel’s Q2 revenue rose 25% Y/Y to $16.1 billion ($1.7 billion beat), and non-GAAP EPS was $0.42 ($0.20 beat), against a $0.10 loss a year ago. CEO Lip-Bu Tan called it the strongest revenue growth in more than fifteen years.
Intel lost $10.8 billion on paper because its own stock price went up so fast that it made the free shares it promised the US government way more expensive to give away. INTC has nearly tripled this year but sits close to 30% below its June 22 high. The stock was caught in a sector-wide rotation out of chip stocks as Wall Street questions whether AI hardware spending is sustainable.
Data Center and AI revenue climbed 59% Y/Y to $6.3 billion, more than double Intel’s overall growth rate, as agentic workloads pull the stack back toward CPUs.
Client Computing rose 13% Y/Y to $8.9 billion against an $8.0 billion consensus, with AI PCs now two-thirds of the client mix.
Foundry grew 31% Y/Y to $5.8 billion, accelerating from 16% last quarter, and adjusted gross margin hit 41.8%, roughly 280 basis points above guidance.
CFO Dave Zinsner said rising memory prices will hit the PC business in the coming quarters, and management already expects sub-seasonal PC consumption in the second half. Intel is spending into that anyway, raising 2026 CapEx from $18 billion to more than $20 billion. Management expects 2027 CapEx to be significantly higher. Foundry's growth is still mostly internal. The segment sells almost entirely to Intel's own product groups, and CEO Lip-Bu Tan wouldn't name external customers, pointing to early next year for visible progress.
Q3 guidance of $15.8–16.8 billion implies a midpoint roughly $1.2 billion above consensus, with EPS of $0.38 (vs. ~$0.27 expected) and gross margin of 42% (vs. ~40% consensus). Zinsner said Intel can sell every data center chip it makes, 18A yields are running ahead of plan, and 14A will move to volume production in 2028. Client Computing is the segment to watch in Q3, when higher memory costs hit PC pricing.