Intel is slated to post fourth-quarter results after the closing bell on Thursday.

Options pricing suggesting traders expect the stock could move up to 8% in either direction by the end of the week.

Intel is set to report fourth-quarter earnings after the market closes on Thursday, with traders anticipating a big move from the chipmaker's stock following the results.

Options pricing suggests traders expect Intel (INTC) stock could move up to 8% in either direction by the end of the week. At the high end, a move of that size from Tuesday's close near $49 could push the stock up to $52, its highest point since early 2022. At the low end, the stock could drop to around $44, about where it was early last week, before an upgrade by KeyBanc analysts sent the stock higher.

Intel's stock is up some 27% since the struggling chipmaker last reported earnings in October, with results that came in stronger than analysts expected. Rumors about potential new customers, along with a show of support from the Trump administration after the U.S. government took a big stake in August, have also boosted optimism about the chipmaker's stock.

Though Intel's stock remains well off its 2021 highs, the shares have had a strong run in recent months after a string of positive news. A strong showing Thursday could help convince more investors of its turnaround, amid lingering uncertainty about its business.

Intel is expected to report revenue of $13.4 billion in the quarter, down about 6% year-over-year, while adjusted earnings per share are forecast to fall to 8 cents from 13 cents a year ago, according to estimates compiled by Visible Alpha.

Last week, KeyBanc analysts upgraded the stock to "buy" from a neutral rating, pointing to signs of better-than-expected AI demand. However, most Wall Street analysts are more cautious. Of the eight analysts with current ratings tracked by Visible Alpha, KeyBanc is the only firm recommending buying the stock, compared to one "sell" and six "hold" ratings.

Wedbush analysts, who maintained a neutral rating heading into the results, told clients Tuesday that they think Intel's recent headlines have had "seemingly disproportionate impacts on the stock," and that they still have concerns about competition and a potential decline in PC demand as a memory shortage raises prices.

The mean price target of analysts surveyed by Visible Alpha around $45 would imply roughly 7% downside from the stock's close Tuesday.

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