Intel Stock Fell 9% in a Day After Soaring About 270% in the First Half. Buy the Dip Before July 23?

Intel stock surged 270% in the first half of 2026 on foundry business momentum and a reported preliminary agreement with Apple, but fell 9% on Wednesday as chip stocks sold off broadly. With a $638 billion market cap on an unprofitable business, the stock's valuation assumes significant success of its foundry bet. Investors should watch the July 23 earnings report for evidence of external foundry revenue growth and formal customer commitments.