Intel’s Rally Faces a Fork in the Road: Server Share Losses vs. Foundry Momentum and a McLaren Comeback 18.05.2026 - 05:54:07 | boerse-global.deFew stocks in recent memory have whipped between euphoria and reality as violently as Intel. After a staggering 179 percent year-to-date gain that added more than $440 billion in market value, the chipmaker’s shares stumbled to €93.71 on Friday, shedding 14.72 percent in the span of a single week. The pullback is not a panic — but it reflects a growing tension between two competing stories that will define the next chapter. On one side sits a manufacturing turnaround that is starting to produce tangible results: better-than-expected yields on the 18A node, a string of quarterly beats, and fresh institutional firepower. On the other lurks an unmistakable retreat in the core server processor market, where Intel’s once-dominant grip has fallen to 54.9 percent, according to UBS analysts, down from over 64 percent a year earlier. The gap between those two stories is now the central question for investors. The server stronghold shows cracks The server market is growing at nearly 20 percent annually, fueled by the insatiable appetite for AI infrastructure. Yet Intel is not keeping pace. Rivals AMD and Arm Holdings are carving away share with custom designs and higher-performance alternatives, forcing Intel to fight for every socket. The x86 revenue pool itself is shrinking relative to Arm, compounding the pressure. The weakness is operational as well as strategic. Intel reported an operating loss in the billions for the first quarter, a reminder that even a 60 percent monthly stock surge cannot mask the cost of restructuring, underutilized fabs, and pricing competition. The Deutsche Bank recently lifted its price target sharply from $63 to $100, but kept a Hold rating — a signal that analysts see limited