Intel Shares Drop 6% to 2-Month Low as Nasdaq Falls 1.3%, Susquehanna Raises Target to $115 Signaling 20% Upside

On Thursday, Intel shares dropped over 6% to two-month lows amid broader weakness in technology, with the Nasdaq-100 falling 1.3%. Susquehanna analyst Christopher Rolland raised his Intel price target to $115 from $80, implying nearly 20% upside from current levels ahead of the company's Q2 earnings due July 23.

Google Cloud and Intel deepened their collaboration, with Gemini Enterprise being deployed across Intel's global workforce to automate engineering and supply chain operations. Google Cloud will also provide additional compute capacity for chip-design simulations alongside Intel's on-premises hardware.