SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549
                                
                                
                                
                            FORM 8-K

                         CURRENT REPORT
                 Pursuant to Section 13 or 15(d)
             of the Securities Exchange Act of 1934
                                
                                
                                
                Date of Report:  January 12, 1999
                (Date of earliest event reported)
                                
                                
                                
                        INTEL CORPORATION
     (Exact name of registrant as specified in its charter)
                                
                                
                                
      Delaware               0-6217              94-1672743
     (State of          (Commission File        (IRS Employer
   incorporation)           Number)          Identification No.)
                                
                                
                                
     2200 Mission College Blvd., Santa Clara, CA 95052-8119
            (Address of principal executive offices)
                                
                                
                                
                         (408) 765-8080
      (Registrant's telephone number, including area code)

<PAGE>

Item 5.        OTHER EVENTS
               
         5.1   Attached  hereto as Exhibit 99.1 and incorporated
               by  reference herein is financial information for
               Intel  Corporation for the quarter and  the  year
               ended   December  26,  1998  and  forward-looking
               statements relating to 1999 and the 1st   Quarter
               of  1999,  as  presented in a  press  release  of
               January 12, 1999.
               
Item 7.        FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
               INFORMATION AND EXHIBITS
               
         (c)   Exhibits
               
               99.1  Financial information for Intel Corporation
               for  the quarter and the year ended December  26,
               1998  and forward-looking statements relating  to
               1999 and the 1st Quarter of 1999.


<PAGE>
      
                            SIGNATURES
Pursuant  to  the requirements of the Securities Exchange  Act  of
1934,  the registrant has duly caused this report to be signed  on
its behalf by the undersigned hereunto duly authorized.

                                INTEL CORPORATION
                                (Registrant)
                                
Date: January 12, 1999     By:  /s/Andy D. Bryant
                                ---------------------------
                                Andy D. Bryant
                                Vice President, Chief Financial
                                Officer and Principal Accounting
                                Officer

<PAGE>

EXHIBIT 99.1
                                 
                                 
              INTEL REPORTS RECORD QUARTERLY REVENUE,
                        NET INCOME AND EPS
            Twelfth Consecutive Year of Revenue Growth
                                 
SANTA  CLARA,  Calif., Jan.12, 1999 - Intel  Corporation  set  new
quarterly records for revenue, net income, earnings per share  and
microprocessor unit shipments, the company said today.  Seasonally
strong  demand for Intel's P6 micro architecture products  in  the
second  half  lifted the company's total 1998  revenue  to  a  new
annual record.

      Revenue totaled $26.3 billion in 1998, up 5 percent from the
prior  record  of  $25.1 billion in 1997.   Net  income  was  $6.1
billion, down 13 percent from $6.9 billion in 1997.  Earnings  per
share of $3.45 declined 11 percent from $3.87 per share in 1997.

      Record  fourth  quarter revenue of $7.6 billion  was  up  17
percent from fourth quarter 1997 revenue of $6.5 billion.   Fourth
quarter  revenue was up 13 percent from third quarter 1998 revenue
of $6.7 billion.

      Record fourth quarter net income of $2.1 billion was  up  18
percent from fourth quarter 1997 net income of $1.7 billion.   Net
income  in the fourth quarter was up 32 percent from third quarter
1998 net income of $1.6 billion.

      Record  fourth quarter earnings per share of $1.19 increased
21  percent from $0.98 in the fourth quarter of 1997 and  rose  34
percent from $0.89 in the third quarter of 1998.

      "Intel achieved its 12th consecutive year of revenue  growth
in  spite  of the challenges of a turbulent market in 1998,"  said
Dr.  Craig  R.  Barrett,  president and chief  executive  officer.
"During  the  fourth  quarter we achieved record  revenue  in  the
Americas, Europe and Asia-Pacific.

      "Intel enters 1999 with a first quarter roadmap offering new
products in every segment of the computer market.  This quarter we
will  launch  Pentium(R) III and Pentium III Xeon(TM)  processors,
the  first  products in the next generation of Intel  Architecture
microprocessors.  On the manufacturing front we  will  soon  begin
the  transition  to  0.18 micron, the next generation  of  process
technology.

      "The investments of the last year in new product development
and  productivity improvement have strengthened  the  company  and
positioned  it  well  for  a  market  that  will  continue  to  be
competitive and dynamic," Barrett said.

      During  the quarter, the company paid its regular  quarterly
cash  dividend of $0.04 per share.  The dividend was paid on  Dec.
1, 1998, to stockholders of record on Nov. 7, 1998.

<PAGE>

This  is  an increase from the previous $0.03 per share  quarterly
dividend.   Intel has paid a regular quarterly cash  dividend  for
six years, and the dividend has been increased in each of the past
five years.

      In  the  fourth quarter, the company repurchased a total  of
16.5  million  shares of common stock at a cost of  $1.5  billion.
For the full year, the company repurchased 80.9 million shares  at
a  cost  of  $6.7 billion.  Since the program began in  1990,  the
company  has repurchased 294.3 million shares at a total  cost  of
$13.6 billion.

<PAGE>

<TABLE>
                         INTEL CORPORATION
             CONSOLIDATED SUMMARY FINANCIAL STATEMENTS
              (In millions, except per share amounts)
                                                           
INCOME                         Three Months         Twelve Months
                                  Ended                 Ended
                            -----------------     -----------------
                            Dec.26,    Dec.27,    Dec.26,   Dec.27,
                              1998      1997       1998       1997
                            -------    -------    -------   -------
<S>                         <C>        <C>        <C>       <C>
                                                            
NET REVENUE                  $ 7,614   $ 6,507    $26,273    $25,070
                             -------   -------    -------    -------
Cost of sales                  3,176     2,691     12,144      9,945
                                                                    
Research and development         674       605      2,509      2,347
                                                                    
Marketing, general and                                              
 administrative                  928       818      3,076      2,891
                                                                    
Purchased in-process                                                
 research and development        ---       ---        165        ---
                             -------   -------    -------    -------
Operating costs and                                                 
 expenses                      4,778     4,114     17,894     15,183
                             -------   -------    -------    -------
OPERATING INCOME               2,836     2,393      8,379      9,887
                                                                    
Interest and other               244       201        758        772
                             -------   -------    -------    -------
INCOME BEFORE TAXES            3,080     2,594      9,137     10,659
                                                                    
Income taxes                   1,016       851      3,069      3,714
                             -------   -------    -------    -------
NET INCOME                   $ 2,064   $ 1,743    $ 6,068    $ 6,945
                             =======   =======    =======    =======
BASIC EARNINGS PER SHARE     $  1.24   $  1.07    $  3.64    $  4.25
                             =======   =======    =======    =======
DILUTED EARNINGS PER SHARE   $  1.19   $  0.98    $  3.45    $  3.87
                             =======   =======    =======    =======
COMMON SHARES OUTSTANDING      1,663     1,633      1,668      1,635
                                                                    
COMMON SHARES                                                       
 ASSUMING DILUTION             1,739     1,785      1,759      1,795
</TABLE>
------------------------------------------------------------------
<TABLE>                                                     
                                                            
BALANCE SHEET                            At         At         At
                                       Dec.26,    Sep.26,   Dec.27,
                                        1998       1998       1997
                                       -------    -------   -------
<S>                                    <C>        <C>       <C>
CURRENT ASSETS                                              
                                                            
Cash and short-term                                         
 investments                           $ 7,626    $ 8,687    $ 9,927
                                                                    
Accounts receivable                      3,527      3,636      3,438
                                                                    
Inventories:                                                        
 Raw materials                             206        258        255
 Work in process                           795        879        928
 Finished goods                            581        441        514
                                       -------    -------    -------
                                         1,582      1,578      1,697
                                       -------    -------    -------
Deferred tax assets and other              740        812        805
                                       -------    -------    -------
 Total current assets                   13,475     14,713     15,867
                                                                    
Property, plant and                                                 
 equipment, net                         11,609     11,863     10,666
                                                                    
Long-term investments                    5,365      1,789      1,839
                                                                    
Other assets                             1,022      1,023        508
                                       -------    -------    -------
 TOTAL ASSETS                          $31,471    $29,388    $28,880
                                       =======    =======    =======
CURRENT LIABILITIES                                                 
                                                            
Short-term debt                        $   159    $   192    $   322
                                                                    
Accounts payable and                                                
 accrued liabilities                     4,081      3,795      4,017
                                                                    
Deferred income on                                                  
 shipments to distributors                 606        471        516
                                                                    
Income taxes payable                       958        798      1,165
                                       -------    -------    -------
 Total current liabilities               5,804      5,256      6,020
                                                                    
LONG-TERM DEBT                             702        583        448
                                                                    
DEFERRED TAX LIABILITIES                 1,387      1,162      1,076
                                                                    
PUT WARRANTS                               201        588      2,041
                                                                    
STOCKHOLDERS' EQUITY                                                
                                                                    
Common Stock and capital                                            
 in excess of par value                  4,822      4,775      3,311
                                                                    
Retained earnings                       18,555     17,024     15,984
                                       -------    -------    -------
 Total stockholders' equity             23,377     21,799     19,295
                                       -------    -------    -------
 TOTAL LIABILITIES AND                                      
  STOCKHOLDERS' EQUITY                 $31,471    $29,388    $28,880
                                       =======    =======    =======
</TABLE>
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SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549
                                
                                
                                
                            FORM 8-K

                         CURRENT REPORT
                 Pursuant to Section 13 or 15(d)
             of the Securities Exchange Act of 1934
                                
                                
                                
                Date of Report:  January 12, 1999
                (Date of earliest event reported)
                                
                                
                                
                        INTEL CORPORATION
     (Exact name of registrant as specified in its charter)
                                
                                
                                
      Delaware               0-6217              94-1672743
     (State of          (Commission File        (IRS Employer
   incorporation)           Number)          Identification No.)
                                
                                
                                
     2200 Mission College Blvd., Santa Clara, CA 95052-8119
            (Address of principal executive offices)
                                
                                
                                
                         (408) 765-8080
      (Registrant's telephone number, including area code)
Item 5.        OTHER EVENTS
               
         5.1   Attached  hereto as Exhibit 99.1 and incorporated
               by  reference herein is financial information for
               Intel  Corporation for the quarter and  the  year
               ended   December  26,  1998  and  forward-looking
               statements relating to 1999 and the 1st   Quarter
               of  1999,  as  presented in a  press  release  of
               January 12, 1999.
               
Item 7.        FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
               INFORMATION AND EXHIBITS
               
         (c)   Exhibits
               
               99.1  Financial information for Intel Corporation
               for  the quarter and the year ended December  26,
               1998  and forward-looking statements relating  to
               1999 and the 1st Quarter of 1999.
SIGNATURES
Pursuant  to  the requirements of the Securities Exchange  Act  of
1934,  the registrant has duly caused this report to be signed  on
its behalf by the undersigned hereunto duly authorized.

                                INTEL CORPORATION
                                (Registrant)
                                
Date: January 12, 1999     By:  /s/Andy D. Bryant
                                ---------------------------
                                Andy D. Bryant
                                Vice President, Chief Financial
                                Officer and Principal Accounting
                                Officer
EXHIBIT 99.1
                                 
                                 
              INTEL REPORTS RECORD QUARTERLY REVENUE,
                        NET INCOME AND EPS
            Twelfth Consecutive Year of Revenue Growth
                                 
SANTA  CLARA,  Calif., Jan.12, 1999 - Intel  Corporation  set  new
quarterly records for revenue, net income, earnings per share  and
microprocessor unit shipments, the company said today.  Seasonally
strong  demand for Intel's P6 micro architecture products  in  the
second  half  lifted the company's total 1998  revenue  to  a  new
annual record.

      Revenue totaled $26.3 billion in 1998, up 5 percent from the
prior  record  of  $25.1 billion in 1997.   Net  income  was  $6.1
billion, down 13 percent from $6.9 billion in 1997.  Earnings  per
share of $3.45 declined 11 percent from $3.87 per share in 1997.

      Record  fourth  quarter revenue of $7.6 billion  was  up  17
percent from fourth quarter 1997 revenue of $6.5 billion.   Fourth
quarter  revenue was up 13 percent from third quarter 1998 revenue
of $6.7 billion.

      Record fourth quarter net income of $2.1 billion was  up  18
percent from fourth quarter 1997 net income of $1.7 billion.   Net
income  in the fourth quarter was up 32 percent from third quarter
1998 net income of $1.6 billion.

      Record  fourth quarter earnings per share of $1.19 increased
21  percent from $0.98 in the fourth quarter of 1997 and  rose  34
percent from $0.89 in the third quarter of 1998.

      "Intel achieved its 12th consecutive year of revenue  growth
in  spite  of the challenges of a turbulent market in 1998,"  said
Dr.  Craig  R.  Barrett,  president and chief  executive  officer.
"During  the  fourth  quarter we achieved record  revenue  in  the
Americas, Europe and Asia-Pacific.

      "Intel enters 1999 with a first quarter roadmap offering new
products in every segment of the computer market.  This quarter we
will  launch  Pentium(R) III and Pentium III Xeon(TM)  processors,
the  first  products in the next generation of Intel  Architecture
microprocessors.  On the manufacturing front we  will  soon  begin
the  transition  to  0.18 micron, the next generation  of  process
technology.

      "The investments of the last year in new product development
and  productivity improvement have strengthened  the  company  and
positioned  it  well  for  a  market  that  will  continue  to  be
competitive and dynamic," Barrett said.

      During  the quarter, the company paid its regular  quarterly
cash  dividend of $0.04 per share.  The dividend was paid on  Dec.
1, 1998, to stockholders of record on Nov. 7, 1998.
This  is  an increase from the previous $0.03 per share  quarterly
dividend.   Intel has paid a regular quarterly cash  dividend  for
six years, and the dividend has been increased in each of the past
five years.

      In  the  fourth quarter, the company repurchased a total  of
16.5  million  shares of common stock at a cost of  $1.5  billion.
For the full year, the company repurchased 80.9 million shares  at
a  cost  of  $6.7 billion.  Since the program began in  1990,  the
company  has repurchased 294.3 million shares at a total  cost  of
$13.6 billion.
INTEL CORPORATION
             CONSOLIDATED SUMMARY FINANCIAL STATEMENTS
              (In millions, except per share amounts)
                                                           
INCOME                         Three Months         Twelve Months
                                  Ended                 Ended
                            -----------------     -----------------
                            Dec.26,    Dec.27,    Dec.26,   Dec.27,
                              1998      1997       1998       1997
                            -------    -------    -------   -------
NET REVENUE                  $ 7,614   $ 6,507    $26,273    $25,070
                             -------   -------    -------    -------
Cost of sales                  3,176     2,691     12,144      9,945
                                                                    
Research and development         674       605      2,509      2,347
                                                                    
Marketing, general and                                              
 administrative                  928       818      3,076      2,891
                                                                    
Purchased in-process                                                
 research and development        ---       ---        165        ---
                             -------   -------    -------    -------
Operating costs and                                                 
 expenses                      4,778     4,114     17,894     15,183
                             -------   -------    -------    -------
OPERATING INCOME               2,836     2,393      8,379      9,887
                                                                    
Interest and other               244       201        758        772
                             -------   -------    -------    -------
INCOME BEFORE TAXES            3,080     2,594      9,137     10,659
                                                                    
Income taxes                   1,016       851      3,069      3,714
                             -------   -------    -------    -------
NET INCOME                   $ 2,064   $ 1,743    $ 6,068    $ 6,945
                             =======   =======    =======    =======
BASIC EARNINGS PER SHARE     $  1.24   $  1.07    $  3.64    $  4.25
                             =======   =======    =======    =======
DILUTED EARNINGS PER SHARE   $  1.19   $  0.98    $  3.45    $  3.87
                             =======   =======    =======    =======
COMMON SHARES OUTSTANDING      1,663     1,633      1,668      1,635
                                                                    
COMMON SHARES                                                       
 ASSUMING DILUTION             1,739     1,785      1,759      1,795
------------------------------------------------------------------
                                                     
                                                            
BALANCE SHEET                            At         At         At
                                       Dec.26,    Sep.26,   Dec.27,
                                        1998       1998       1997
                                       -------    -------   -------
CURRENT ASSETS                                              
                                                            
Cash and short-term                                         
 investments                           $ 7,626    $ 8,687    $ 9,927
                                                                    
Accounts receivable                      3,527      3,636      3,438
                                                                    
Inventories:                                                        
 Raw materials                             206        258        255
 Work in process                           795        879        928
 Finished goods                            581        441        514
                                       -------    -------    -------
                                         1,582      1,578      1,697
                                       -------    -------    -------
Deferred tax assets and other              740        812        805
                                       -------    -------    -------
 Total current assets                   13,475     14,713     15,867
                                                                    
Property, plant and                                                 
 equipment, net                         11,609     11,863     10,666
                                                                    
Long-term investments                    5,365      1,789      1,839
                                                                    
Other assets                             1,022      1,023        508
                                       -------    -------    -------
 TOTAL ASSETS                          $31,471    $29,388    $28,880
                                       =======    =======    =======
CURRENT LIABILITIES                                                 
                                                            
Short-term debt                        $   159    $   192    $   322
                                                                    
Accounts payable and                                                
 accrued liabilities                     4,081      3,795      4,017
                                                                    
Deferred income on                                                  
 shipments to distributors                 606        471        516
                                                                    
Income taxes payable                       958        798      1,165
                                       -------    -------    -------
 Total current liabilities               5,804      5,256      6,020
                                                                    
LONG-TERM DEBT                             702        583        448
                                                                    
DEFERRED TAX LIABILITIES                 1,387      1,162      1,076
                                                                    
PUT WARRANTS                               201        588      2,041
                                                                    
STOCKHOLDERS' EQUITY                                                
                                                                    
Common Stock and capital                                            
 in excess of par value                  4,822      4,775      3,311
                                                                    
Retained earnings                       18,555     17,024     15,984
                                       -------    -------    -------
 Total stockholders' equity             23,377     21,799     19,295
                                       -------    -------    -------
 TOTAL LIABILITIES AND                                      
  STOCKHOLDERS' EQUITY                 $31,471    $29,388    $28,880
                                       =======    =======    =======