Key Takeaways
- Intel shares jumped 12.06% Wednesday, reaching an intraday record of $94.95
- First-quarter 2026 sales climbed 7% annually to $13.6 billion, marking the company’s strongest earnings surprise in over five years
- Second-quarter 2026 outlook forecasts $13.8B–$14.8B in revenue, representing 7–14.7% year-over-year growth
- Cramer praised the quarterly performance as “outstanding,” highlighting CEO Lip-Bu Tan’s impact on company culture
- The Mad Money host expects Intel and AMD to thrive throughout the year on AI-fueled CPU demand
Intel (INTC) shares skyrocketed 12.06% during Wednesday’s trading session, settling at $94.75 after momentarily reaching an all-time intraday peak of $94.95. The dramatic surge came on the heels of impressive quarterly results and enthusiastic endorsement from CNBC’s Jim Cramer on his Mad Money program.
Cramer admitted the results exceeded even his optimistic expectations. “Even I didn’t expect this formerly iconic chipmaker to report such an outstanding quarter,” he explained to his audience. “It did the impossible — it somehow lived up to the sky-high expectations.”
The semiconductor giant delivered first-quarter 2026 sales of $13.6 billion, representing a 7% increase from the $12.7 billion recorded in the year-ago period. Cramer characterized it as Intel’s most significant revenue outperformance in more than half a decade, noting margin improvements as well.
Shares had previously exploded 23.6% on April 24 when the company initially released its earnings report, establishing a previous record high. Wednesday’s rally tacked on an additional 12% gain.
Cramer attributed the remarkable transformation to CEO Lip-Bu Tan’s leadership. Tan assumed the chief executive role just over twelve months ago. “I think there’s been a profound cultural shift in Intel,” Cramer observed. “When you listen to him on the conference call, Intel sounds like a company that is firing on all cylinders.”
CPU Demand Tied to AI Expansion Powers Results
The revenue outperformance stemmed from robust CPU sales, propelled by what Cramer described as “the next leg of the AI revolution.” Intel CFO David Zinsner emphasized that accelerating CPU demand enabled improved pricing power, which directly contributed to the superior margin performance.
Cramer also underscored that Intel’s newest server processors are experiencing their most rapid adoption cycle in five years.
Intel’s second-quarter 2026 forecast calls for revenue ranging from $13.8 billion to $14.8 billion. This guidance indicates year-over-year expansion of 7% to 14.7% versus the $12.9 billion posted in Q2 2025. Given that last year’s second quarter was essentially flat compared to Q2 2024, the current projections appear particularly impressive.
Cramer Also Highlights AMD and Arm
Addressing the broader semiconductor sector, Cramer expressed confidence that CPU-focused companies — particularly Intel and AMD — will deliver strong performances throughout the remainder of the year.
AMD advanced 4.30% during the session, while Arm Holdings declined 1.53%. Cramer observed that companies perceived as Intel “copycats” experienced sharper selloffs, but he characterized this as a potential buying opportunity.
Cramer included a caveat about entry points. “Today’s parabolic move says you missed it,” he stated. “But this market could go down in a heartbeat, and then you’re going to get another chance.”
Intel’s first-quarter 2026 conference call reinforced that the server CPU adoption rate represents the fastest product ramp the chipmaker has witnessed in five years.
