FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * OTELLINI PAUL S   2. Issuer Name and Ticker or Trading Symbol INTEL CORP [INTC] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) PRESIDENT AND CEO (Last) (First) (Middle) INTEL CORPORATION, 2200 MISSION COLLEGE BLVD. 3. Date of Earliest Transaction (Month/Day/Year) 04/19/2007 (Street) SANTA CLARA, CA 95054 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price COMMON               705,148 (1) D   COMMON               700 I By Self for Daughter COMMON               2,737 I By Employee Benefit Plan Trust COMMON               1,345 I By Employee Benefit Plan Trust (Spouse)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Option(right to buy)

$ 21.52

04/19/2007

A

130,000

04/19/2008

04/19/2014

COM.STK

130,000

$ 0

5,755,586

D

Employee Option(right to buy)

$ 21.52

04/19/2007

A

130,000

04/19/2009

04/19/2014

COM.STK

130,000

$ 0

5,885,586

D

Employee Option(right to buy)

$ 21.52

04/19/2007

A

130,000

04/19/2010

04/19/2014

COM.STK

130,000

$ 0

6,015,586

D

Employee Option(right to buy)

$ 21.52

04/19/2007

A

130,000

04/19/2011

04/19/2014

COM.STK

130,000

$ 0

6,145,586

D

Restricted Stock Units

$ 0 (2)

04/19/2007

A

11,250

04/19/2008(3)

04/19/2008(3)

COM.STK

11,250

$ 0

56,250

D

Restricted Stock Units

$ 0 (2)

04/19/2007

A

11,250

04/19/2009(3)

04/19/2009(3)

COM.STK

11,250

$ 0

67,500

D

Restricted Stock Units

$ 0 (2)

04/19/2007

A

11,250

04/19/2010(3)

04/19/2010(3)

COM.STK

11,250

$ 0

78,750

D

Restricted Stock Units

$ 0 (2)

04/19/2007

A

11,250

04/19/2011(3)

04/19/2011(3)

COM.STK

11,250

$ 0

90,000

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
OTELLINI PAUL S INTEL CORPORATION 2200 MISSION COLLEGE BLVD. SANTA CLARA, CA 95054	X		PRESIDENT AND CEO

Signatures

PAUL S. OTELLINI		04/19/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Includes 1,383 shares acquired under the Intel Corporation Stock Purchase Plan during February 2007. Also includes 2,192 shares acquired under the Alex Brown Dividend Reinvestment Program in March 2007.
(2)	Each restricted stock unit represents the right to receive, following vesting, one share of Intel Corporation common stock.
(3)	Unless earlier forfeited under the terms of the RSU, 25% of the award vests and converts into common stock on each anniversary of the grant date.

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