Equity Snap: Intel Corp (INTC US): Beat and raise driven by unprecedented demand

Research evidence excerpt

Equity Snap: Intel Corp (INTC US): Beat and raise driven by unprecedented demand

, both equity and debt

(including derivatives) of companies covered in HSBC Research on a principal or agency basis or act as a market maker or

liquidity provider in the securities/instruments mentioned in this report.

Analysts, economists, and strategists are paid in part by reference to the profitability of HSBC which includes investment banking,

sales & trading, and principal trading revenues.

Whether, or in what time frame, an update of this analysis will be published is not determined in advance.

Non-U.S. analysts may not be associated persons of HSBC Securities (USA) Inc, and therefore may not be subject to FINRA

Rule 2241 or FINRA Rule 2242 restrictions on communications with the subject company, public appearances and trading

securities held by the analysts.

Economic sanctions laws imposed by certain jurisdictions such as the US, the EU, the UK, and others, may prohibit persons

subject to those laws from making certain types of investments, including by transacting or dealing in securities of particular

issuers, sectors, or regions. This report does not constitute advice in relation to any such laws and should not be construed as an

inducement to transact in securities in breach of such laws.

For disclosures in respect of any company mentioned in this report, please see the most recently published report on that company

available at www.hsbcnet.com/research. HSBC Private Bank clients should contact their Relationship Manager for queries

regarding other research reports. In order to find out more about the proprietary models used to produce this report, please contact

the authoring analyst.

Additional disclosures

1 This report is dated as at 24 July 2026.