The Nasdaq maintains a cautiously bullish stance as the Magnificent 7 earnings season begins. Intel delivered a stunning Q3 surprise, reporting $28.1B in revenue (+12% YoY) and record $4B in free cash flow. CEO Lip-Bu Tan credited AI compute demand across enterprise, cloud, and edge infrastructure for the turnaround. Aggressive cost discipline (opex down 17%) and $17B in liquidity injections—including $5.7B from the U.S. government, $2B from SoftBank, $4.3B from the Altera sale, and a potential $5B Nvidia investment—further stabilized balance sheets. Intel also repaid $4.3B in debt, strengthening its cash position and positioning itself as one of the healthiest names in semiconductors. Despite lingering production constraints, its 18A process and new U.S. fab expansion under the CHIPS Act reinforce its long-term growth outlook.
Key Levels: Support at 24,883.0 | Resistance at 25,418.0
Investor Takeaway: RSI at 71 above MA line trending sideways with flat MACD buying pressures; Intel’s turnaround sets a constructive tone for Big Tech earnings.