Intel Corp (NASDAQ:INTC) stock is falling on Friday as investors reduce exposure to large-cap technology shares.This market movement stems from a broader, risk-off retreat visible across the entire semiconductor sector.Nasdaq futures are down 0.36% while S&P 500 futures have shed 0.07%. With the stock still up 372.46% over the past 12 months, the early dip reads like profit-taking and de-risking as the broader tape softens ahead of the bell.Broader Sector Gains Precede ShiftUpcoming Q2 Earnings On HorizonIntel is scheduled to report its second-quarter financial results on July 23. According to analyst consensus estimates, the company is projected to report earnings per share (EPS) of 19 cents alongside quarterly revenue of $14.40 billion.Intel Stock: Key Levels To WatchIntel is in a near-term reset: at $110.58, it’s trading 11.4% below its 20-day SMA ($124.44) and 5.4% below its 50-day SMA ($116.50), even though it remains 31% above the 100-day SMA ($84.15) and 77.6% above the 200-day SMA ($62.06). Momentum is best explained by RSI, which sits at 45.25—neutral.The bigger-picture trend structure is still constructive, with the 20-day SMA above the 50-day SMA and a golden cross (50-day SMA above the 200-day SMA) that formed in August 2025. But with price now under the 50-day SMA and also slightly below the 50-day EMA ($110.96), bulls typically want to see a quick reclaim of those levels to argue the pullback is just a pause.