Intel Corp (NASDAQ:INTC) stock is surging to three-year highs today, up 11% at $53.88 at last glance, as investors grow optimistic regarding the company's fourth-quarter report, due out after the close tomorrow. Data center building is boosting chip demand, while CEO Lip-Bu Tan's turnaround efforts could begin to yield results.
Today's pop comes one day after Intel stock received upgrades from Seaport Research and HSBC, while Bernstein lifted its price target by $1 to $36 this morning. On the charts, INTC has been rallying since late December, already up 44.2% since the start of 2026.
Options traders are targeting Intel at triple the intraday average pace this morning, with 387,000 calls and 163,000 puts exchanged so far -- three times the amount typically seen at this point. The April 65 call is the most popular, followed by the 70 call in the same series, with new positions being bought to open at both.
