Intel (NASDAQ: INTC) has been one of the top-performing stocks in 2026. It currently ranks as the sixth-best-performing stock in the S&P 500 (SNPINDEX: ^GSPC), rising more than 220% so far this year. That's a fantastic return in less than a year, but could it deliver even greater returns to push it to $150 per share before 2026 is over?
Let's take a look at what it would take to get that far, and if it's even feasible considering the current state of the business.
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Intel's turnaround is underway
Intel's business can be split into two parts: Intel products and a semiconductor foundry. Years ago, Intel used to advertise how powerful its processors were, but that growth segment is nearly wrapped up. There isn't a ton of growth in the consumer electronics space anymore, and considering the grim outlook for its semiconductor foundry, the stock looked doomed.
However, one part of Intel's business continues to thrive: Its data center and AI product lineup. Intel makes CPUs for data centers, which have seen a huge boom in demand as AI has pushed the build-out of new data centers. This has created a great business for Intel, and this segment rose 59% year over year during the second quarter.
The biggest sleeping giant within Intel's business is its foundry business. There aren't a lot of semiconductor foundries out there, and the industry is pretty much dominated by Taiwan Semiconductor Manufacturing (NYSE: TSM). However, Intel had a fairly strong foundry business until it started to lose clients to TSMC's superior technology.
Thanks to various investments from the U.S. government and Nvidia, Intel now has the capabilities to compete with TSMC. Intel's 18A chip node is one of the most advanced available, and if the company can attract clients to its foundry business, the stock could be ready to skyrocket.
Intel found one of the biggest clients of all: Apple. Apple and Intel reportedly reached an agreement for Intel to become a second supplier for some of its products, which would be a huge win for its foundry business. If Intel can continue to capture new clients, then its foundry business can push the stock to new heights.
But will it be enough to get it to $150 per share before the year is over? I'm not sure about that.