Goldman Sachs: Intel Q4 Guidance Weak, Maintains Neutral Rating

according to Chaoshian Research, that Goldman Sachs Group’s earnings quick review dated October 29, 2026 indicates the midpoint of Intel’s Q4 revenue guidance is $15.5 billion, 8.9% below market consensus; the adjusted gross margin guidance stands at 38%, under the consensus of 42.5%. Adjusted EPS for Q3 was $0.52, exceeding market expectations.

Goldman Sachs notes that while server demand, advanced packaging, and process technology advancements had supported pre-earnings optimism, soft PC business conditions and cautious forward-looking commentary will weigh on near-term earnings forecasts. The report maintains a neutral rating with a 12-month price target of $150, continuing to track foundry client adoption, server demand and market share, as well as margin recovery progress.