UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 11-K

X   ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended: December 31, 2005

TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                   to                  

Commission file number 033-63489

INTEL CORPORATION 401(k) SAVINGS PLAN

(Full title of the Plan)

INTEL CORPORATION

(Name of the issuer of the securities held pursuant to the Plan)

2200 MISSION COLLEGE BOULEVARD
SANTA CLARA, CALIFORNIA, 95054-1549
(Address of principal executive office of the issuer)

INTEL CORPORATION 401(k) SAVINGS PLAN
Index to Financial Statements and Exhibits

Item

Report of Ernst & Young LLP, Independent Registered Public Accounting Firm			2
Statements of Net Assets Available for Benefits at December 31, 2005 and 2004			3
Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2005			4
Notes to Financial Statements			5
Supplemental Schedule at December 31, 2005
Schedule H, Line 4i – Schedule of Assets (Held At End of Year)			17
Signature			26
Exhibit 23 - Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm			27

Report of Ernst & Young LLP, Independent Registered Public Accounting Firm

The SERP Administrative Committee
Intel Corporation 401(k) Savings Plan

We have audited the accompanying statements of net assets available for benefits of the Intel Corporation 401(k) Savings Plan as of December 31, 2005 and 2004, and the related statement of changes in net assets available for benefits for the year ended December 31, 2005. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. We were not engaged to perform an audit of the Plan’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan at December 31, 2005 and 2004, and the changes in its net assets available for benefits for the year ended December 31, 2005, in conformity with U.S. generally accepted accounting principles.

Our audits were performed for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2005, is presented for purposes of additional analysis and is not a required part of the financial statements but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in our audits of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements taken as a whole.

		/s/ Ernst & Young LLP

San Jose, California
June 19, 2006

Intel Corporation 401(k) Savings Plan

Statements of Net Assets Available for Benefits

		December 31,
		2005				2004
Assets
Value of interest in the Stable Value Fund		$	101,857,088			$	89,015,028
Investments, at fair value			3,165,678,287				2,707,286,275
Receivables:
Interest and dividends receivable			1,294				1,927,998
Receivable from brokers for securities sold			1,866,721				1,452,431
Employee contributions receivable			9,298,616				7,792,116
Total receivables			11,166,631				11,172,545
Total assets			3,278,702,006				2,807,473,848
Liabilities
Other accrued liabilities			2,074,374				2,195,990
Net assets available for benefits		$	3,276,627,632			$	2,805,277,858

See accompanying notes.

Intel Corporation 401(k) Savings Plan

Statement of Changes in Net Assets Available for Benefits

Year ended December 31, 2005

Additions
Employee contributions		$	342,796,341
Net investment income:
Interest and dividend income			106,619,279
Net investment gain from participation in Stable Value Fund			3,648,654
Net realized and unrealized appreciation in fair value of investments			134,520,224
Total net investment income			244,788,157
Total additions			587,584,498
Deductions
Benefits paid to participants and participant withdrawals			118,290,981
Administrative fees			266,417
Total deductions			118,557,398
Transfers to/from other plans, net			2,322,674
Net increase			471,349,774
Net assets available for benefits:
Beginning of year			2,805,277,858
End of year		$	3,276,627,632

See accompanying notes.

Intel Corporation 401(k) Savings Plan

Notes to Financial Statements

December 31, 2005

1. Description of the Plan

The following description of the Intel Corporation 401(k) Savings Plan (the Plan) provides only general information. Participants should refer to the plan document for a more complete description of the Plan’s provisions.

General

The Plan is a defined contribution plan covering all eligible United States (U.S.) employees of Intel Corporation (the company). Eligible employees may participate in the Plan any time on or after their date of hire.

The Plan is intended to be qualified under Section 401(a) of the U.S. Internal Revenue Code of 1986 (the Code), as amended, and is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA), as amended.

Trustee

Mellon Bank, N.A. is the Plan’s trustee, and holds all investments of the Plan and the Intel Corporation Master Trust (the Master Trust).

Administration of the Plan

Prior to November 10, 2004, the company delegated to the Plan Administrative Committee responsibility for the general operation and administration of the Plan and for carrying out and interpreting the Plan’s provisions. Effective November 10, 2004, the SERP Administrative Committee (as appointed by the Finance Committee of the company) was named the fiduciary responsible for the general operation and administration of the Plan (but not management or control of Plan assets) and the Investment Policy Committee (as appointed by the Finance Committee of the company) was named the fiduciary responsible for the management and control of Plan assets. The company is the plan sponsor, as defined by ERISA. Fidelity Investments Institutional Operations Company provides recordkeeping services with respect to the Plan.

Plan Mergers

During 2005, the Intel Puerto Rico Retirement Savings Plan (Puerto Rico Savings Plan) and the Intel Puerto Rico Profit Sharing Retirement Plan (Puerto Rico Profit Sharing Plan) were merged into the Plan, resulting in transfers into the Plan of $2,452,484 in net assets.

Intel Corporation 401(k) Savings Plan

Notes to Financial Statements (continued)

1. Description of the Plan (continued)

Contributions and Participant Accounts

Participant Contributions

Participants may contribute up to 50% (limited to certain percentages for highly compensated individuals) of their annual compensation on a before-tax basis, provided the amounts do not exceed the annual Internal Revenue Service (IRS) limit. Such contributions are withheld by the company from each participant’s compensation and deposited in the appropriate fund in accordance with the participant’s directives. Participants who are fifty years of age or older by the end of a particular plan year and have contributed the maximum 401(k) deferral amount allowed under the Plan for that year are eligible to contribute an additional portion of their annual compensation on a before-tax basis as catch-up contributions, up to the annual IRS limit. As of December 31, 2005, participants could elect to invest in any combination of the 75 different investment options offered under the Plan. Participants may change their investment elections daily.

Participant Accounts

Separate accounts are maintained for each participant. The account balances are generally adjusted as follows:

	•		Bi-weekly or semi-monthly for participant contributions.
	•		Daily for a pro rata share of investment income or losses on the Plan’s investments based on the ratio that each participant’s account bears to the total of all such accounts.

Vesting

Participants are immediately 100% vested with respect to contributions to all investment options in the Plan, as well as the related earnings from such contributions.

Intel Corporation 401(k) Savings Plan

Notes to Financial Statements (continued)

1. Description of the Plan (continued)

Payment of Benefits

Participants are eligible for a distribution of Plan benefits upon termination of service, whether by disability, retirement, death or leaving the company. In the event of financial hardship (as defined by the Plan), participants may withdraw money from their Plan accounts while they are still employed. Upon termination of service, a participant or applicable beneficiary may elect to have benefits paid in a single lump-sum distribution or monthly annuity payments, or may request that the company make a direct transfer to another eligible retirement plan. Spousal consent may be required based on the value of the account balance or type of distribution.

Participants who elect monthly annuity payments will have the balance of their accounts transferred to the Intel Corporation Defined Benefit Pension Plan (Intel Pension Plan). A single annuity is paid to those participants based on the combined benefit under the terms of the two plans. There were transfers under this option of $103,443 for the year ended December 31, 2005.

Participant Loans

All participants are permitted to obtain loans of up to 50% of their vested account balances in the Plan up to a maximum of $50,000 when combined with all other loans from this Plan and the Intel Corporation Profit Sharing Retirement Plan (Intel Profit Sharing Plan). The participants’ account balances secure their loans. The interest rate is based on the prime rate plus 1% as reported in The Wall Street Journal on the last business day of each month. The loan provisions are established and administered by the recordkeeper.

Participants may choose to obtain loans from either this Plan or the Intel Profit Sharing Plan. Repayments of loans are transferred to the participants’ Plan and Intel Profit Sharing Plan accounts in the ratio in which such accounts provided funding for the loan.

Administrative Expenses

The company pays a portion of the expenses for administration of the Plan. All other administrative expenses are paid directly by the Plan.

Intel Corporation 401(k) Savings Plan

Notes to Financial Statements (continued)

2. Summary of Significant Accounting Policies

Basis of Accounting

The accompanying financial statements are prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles.

Investment Valuation and Income Recognition

A portion of the investments of the Plan are held in the Master Trust, which consists of the assets of the Plan, the Intel Profit Sharing Plan, the Intel Pension Plan, the Puerto Rico Savings Plan, the Puerto Rico Profit Sharing Plan, and the Intel Puerto Rico Defined Benefit Pension Plan. The Master Trust includes multiple investment accounts, in which different combinations of the above-mentioned plans invest. Each participating plan shares in the assets and earnings of the master trust investment accounts (see Note 3) based on its respective interest in each master trust investment account. The Plan participates in one such investment account, the Stable Value Fund, along with the Intel Profit Sharing Plan and the Puerto Rico Savings Plan.

The Plan, either directly or through investment in the Stable Value Fund, holds investments in mutual funds, common collective trust funds, debt securities, equity securities and participant loans, which are stated at fair value as of the last day of the year. The fair value for securities traded on a national securities exchange or over-the-counter market is the last reported sales price as of the valuation date. Mutual funds are valued at quoted market prices that represent the net asset values of shares held at year-end. Participation units in common collective trust funds are stated at their quoted redemption value on the last business day of the plan year. Participant loans are valued at their outstanding balances, which approximate fair value. In the absence of an actively traded market, investments in the Stable Value Fund are stated at estimated fair value, computed using discounted cash flows.

Net investment income includes the gain (loss) realized on the sale of securities and unrealized appreciation (depreciation) in the fair value of investments, which is the difference between the fair value of investments at the beginning and the end of the year.

Intel Corporation 401(k) Savings Plan

Notes to Financial Statements (continued)

2. Summary of Significant Accounting Policies (continued)

Investment Valuation and Income Recognition (continued)

The Stable Value Fund holds guaranteed investment contracts (see Note 6) with insurance companies and banks in order to provide participants with a stable, fixed-rate return of investment and protection of principal from changes in market interest rates. The guaranteed investment contracts are allocated to the Plan, the Intel Profit Sharing Plan, and the Puerto Rico Savings Plan based on each plan’s proportionate share of participation in the Stable Value Fund. The contracts are unallocated in nature and are valued at contract value because they are fully benefit-responsive. Contract value, as reported by the respective insurance companies or bank, approximates fair value. Contract value represents cost plus contributions made under the contracts plus interest at the contract rates less withdrawals and administrative expenses. If the funds in the guaranteed investment contracts are needed for benefit payments prior to contract maturity, they may be withdrawn without penalty.

The Stable Value Fund may also hold derivative financial instruments (see Note 7) in order to manage market risks and to alter the return characteristics of underlying securities to replicate the performance of various indices. The Stable Value Fund utilizes derivatives to replicate financial market performance in situations where derivatives are more economical or practical than purchasing the underlying securities themselves. Wrapper contracts issued by insurance companies and banks are stated at contract value, which approximates fair value, as of the last day of the year and are included with the fair value of the related underlying debt securities at year-end. All of the wrapper contracts held in the Stable Value Fund are allocated to the Plan, the Intel Profit Sharing Plan, and the Puerto Rico Savings Plan based on each plan’s proportionate share of the underlying debt securities.

Standish Mellon Asset Management has discretionary authority for the purchase and sale of investments in the Stable Value Fund, subject to the general investment policies of the Investment Policy Committee of the company.

Investment transactions are recognized as of their trade dates, and collateral has been obtained and secured against investments whenever deemed necessary. Interest is accrued daily; dividends are accrued when declared. Crediting interest rates on guaranteed investment contracts and wrapper contracts may be reset periodically by the issuer, but will not be less than zero percent.

Intel Corporation 401(k) Savings Plan

Notes to Financial Statements (continued)

2. Summary of Significant Accounting Policies (continued)

Benefit Payments

Benefits are recorded when paid.

Contributions

Participant contributions are accrued when the participants’ salary deferrals are made.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and judgments that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ materially from management’s estimates.

Intel Corporation 401(k) Savings Plan

Notes to Financial Statements (continued)

3. Master Trust Investment Accounts

The value of the Plan’s interest in the Stable Value Fund included in the statements of net assets available for benefits represents 89.1% of the net assets available for benefits of the Stable Value Fund at December 31, 2005 and 91.7% at December 31, 2004. The Stable Value Fund’s net assets available for benefits consisted of the following at:

		December 31,
		2005				2004
Assets
Investments, at fair value:
Common collective trusts		$	11,647,486			$	11,586,010
Debt securities			91,859,587				73,992,847
Guaranteed investment contracts			10,433,458				11,207,354
Total investments			113,940,531				96,786,211
Interest and dividends receivable			392,308				304,030
Total assets			114,332,839				97,090,241
Liabilities
Investment advisory fees			25,387				22,530
Net assets available for benefits		$	114,307,452			$	97,067,711

The net investment gain in the Stable Value Fund for the year ended December 31, 2005, was comprised of interest and dividends in the amount of $4,051,678.

Intel Corporation 401(k) Savings Plan

Notes to Financial Statements (continued)

4. Investments

Investments that represent 5% or more of the Plan’s net assets available for benefits at year-end are as follows:

		December 31,
		2005				2004
Mutual funds:
Fidelity Low-Priced Stock Fund		$	298,169,802			$	280,354,826
Vanguard Institutional Index Fund			259,453,265				255,876,704
Fidelity Contrafund			214,493,744				170,993,441
Fidelity Growth Company Fund			201,092,692				182,853,413
American Funds® EuroPacific Growth Fund			169,861,907				*
Fidelity Growth & Income Portfolio			*				142,279,437
Common stock:
Intel Corporation			613,888,717				599,065,229

During 2005, the Plan’s investments (including investments purchased, sold as well as held during the year) appreciated in fair value as follows:

		Year ended
		December 31,
		2005
Net realized and unrealized appreciation in fair value of investments:
Mutual funds		$	84,085,689
Common collective trust funds			11,269,554
Intel common stock			38,748,885
Other common stock			416,096
Net realized and unrealized appreciation in fair value of investments		$	134,520,224

Intel Corporation 401(k) Savings Plan

Notes to Financial Statements (continued)

5. Party-In-Interest Transactions

Approximately 19% of the Plan’s investments are shares of the company’s common stock. Transactions in shares of the company’s common stock qualify as party-in-interest transactions under the provisions of ERISA. During 2005, the Plan made purchases of the company’s common stock of $46,034,360 and sales and distributions of $69,959,757.

6. Guaranteed Investment Contracts

The Stable Value Fund holds guaranteed investment contracts with insurance companies and banks in order to provide participants with a stable, fixed-rate return of investment and protection of principal from changes in market interest rates. As of December 31, 2005, the Stable Value Fund held guaranteed investment contracts in the amount of $10,433,458 ($11,207,354 at December 31, 2004) with insurance companies that have S&P ratings of AA- or better at the time of purchase. No more than $3,231,527 of the guaranteed investment contracts were with any one insurance company at December 31, 2005 ($3,137,405 at December 31, 2004). The crediting interest rates on the guaranteed investment contracts ranged from 2.85% to 3.70% at December 31, 2005 and December 31, 2004. The average yield earned on the guaranteed investment contracts was 3.29% in 2005 (3.33% in 2004).

7. Derivative Financial Instruments

The Stable Value Fund may hold wrapper contracts in order to manage market risks and to alter the return characteristics of underlying securities to match certain fixed income fund objectives. Wrapper contracts generally change the investment characteristics of underlying securities (such as corporate debt or U.S. government securities) to those of guaranteed investment contracts. The wrapper contracts provide that benefit-responsive distributions for specific underlying securities may be withdrawn at contract or face value. Benefit-responsive distributions are generally defined as a withdrawal on account of a participant’s retirement, disability or death, or participant-directed transfers in accordance with the terms of the Plan. As of December 31, 2005, the Stable Value Fund held wrapper contracts with a positive fair value of $1,627,251 (negative fair value of $78,852 as of December 31, 2004). At December 31, 2005, the crediting interest rates on the wrapper contracts ranged from 3.37% to 4.67% (2.99% to 4.67% at December 31, 2004). The average yield earned on the wrapper contracts was 3.60% in 2005 (3.80% in 2004).

Intel Corporation 401(k) Savings Plan

Notes to Financial Statements (continued)

8. Concentration of Credit Risk

The Plan’s exposure to a concentration of credit risk is limited by the diversification of investments across 75 participant-directed fund elections. With the exception of the Intel Stock Fund, the investments within each participant-directed fund election are further diversified into varied financial instruments. The Intel Stock Fund invests in a single security. The Plan’s exposure to credit risk on the wrapper contracts is limited to the fair value of the contracts with each counterparty.

9. Income Tax Status

The Plan has received a determination letter from the Internal Revenue Service dated February 7, 2006, stating that the Plan is qualified under Section 401(a) of the Code, and therefore the related trust is exempt from taxation. To maintain its qualified status, the Plan is required to operate in conformity with the Code. The plan sponsor believes the Plan is being operated in compliance with the applicable requirements of the Code and, therefore, believes that the Plan is qualified and the related trust is tax exempt.

10. Plan Termination

The company has the right under the Plan to amend and terminate the Plan at any time for any reason. In the event of a plan termination, participants will remain 100% vested in their accounts.

Intel Corporation 401(k) Savings Plan

Notes to Financial Statements (continued)

11. Reconciliation of Financial Statements to Form 5500

The following is a reconciliation of net assets available for benefits per the financial statements at December 31, 2004 to Form 5500:

		December 31,
		2004
Net assets available for benefits per the financial statements		$	2,805,277,858
Amounts allocated to withdrawing participants			(232,148	)
Net assets available for benefits per the Form 5500		$	2,805,045,710

The following is a reconciliation of benefits paid to participants per the financial statements for the year ended December 31, 2005, to Form 5500:

		Year ended
		December 31,
		2005
Benefits paid to participants and participant withdrawals per the financial statements		$	118,290,981
Less: Amounts allocated to withdrawing participants at December 31, 2004			(232,148	)
Benefits paid to participants per Form 5500		$	118,058,833

Amounts allocated to withdrawing participants are recorded on the Form 5500 for benefit claims that have been processed and approved for payment prior to December 31, but not yet paid as of that date. There were no such amounts allocated to withdrawing participants at December 31, 2005.

Supplemental Schedule

Intel Corporation 401(k) Savings Plan

EIN: 94-1672743, Plan Number: 003

Schedule H, Line 4i — Schedule of Assets (Held At End of Year)

December 31, 2005

(c)

Description of investment

(b)

including maturity date,

(e)

Identity of issue, borrower,

rate of interest, collateral,

Current

(a)

lessor, or similar party

par, or maturity value

Value

Mutual funds:

AIM Basic Value

31,067 shares

$

1,085,796

American Century Equity Income Fund

336,351 shares

2,630,265

American Century Real Estate Fund

823,795 shares

20,982,049

American Century Small Cap Value Fund

1,199,288 shares

11,573,131

American Century Ultra Fund

4,065,204 shares

123,622,849

Merrill Lynch Global Allocation Fund

260,411 shares

4,411,357

American Funds® EuroPacific Growth Fund

4,133,899 shares

169,861,907

Brandywine Blue Fund, Inc.

663,780 shares

19,634,610

Calvert Social Investment Bond Fund

293,091 shares

4,645,487

Calvert Social Investment Equity Fund

51,181 shares

1,862,480

American Century Small Company Fund

2,426,961 shares

23,784,220

Delaware Pooled International Equity Fund

598,801 shares

12,317,329

Dodge & Cox Stock Fund

478,435 shares

65,650,894

Evergreen International Bond Fund

509,793 shares

5,408,901

*

Fidelity Capital & Income Fund

6,346,398 shares

53,119,353

*

Fidelity Contrafund®

3,312,133 shares

214,493,744

*

Fidelity Growth & Income Portfolio

4,085,762 shares

140,550,202

*

Fidelity Growth Company Fund

3,160,344 shares

201,092,692

*

Fidelity Low-Priced Stock Fund

7,300,926 shares

298,169,802

*

Fidelity Mid-Cap Stock Fund

276,752 shares

7,353,294

*

Fidelity Puritan Fund

3,576,497 shares

66,987,783

*

Fidelity Small Cap Stock Fund

348,374 shares

6,375,243

Franklin Income Fund

2,235,027 shares

5,341,714

Gabelli Gold

374,515 shares

7,789,903

GMO Emerging Countries Fund

2,363,937 shares

41,534,368

Goldman Sachs Small Cap Value Fund

115,940 shares

4,878,763

Goldman Sachs Mid Cap Value Fund

835,048 shares

29,418,741

Intel Corporation 401(k) Savings Plan

EIN: 94-1672743, Plan Number: 003

Schedule H, Line 4i — Schedule of Assets (Held At End of Year) (continued)

December 31, 2005

(c)

Description of investment

(b)

including maturity date, rate

(e)

Identity of issue, borrower,

of interest, collateral, par, or

Current

(a)

lessor, or similar party

maturity value

Value

Mutual funds (continued):

The Growth Fund of America

357,225 shares

$

11,020,395

Legg Mason Special Investment Trust

101,557 shares

5,320,560

Legg Mason Value Trust Inc

153,798 shares

11,631,742

Longleaf Partners Fund

136,103 shares

4,215,097

Loomis Sayles Bond

837,924 shares

11,362,243

The Merger Fund

72,678 shares

1,066,188

Merrill Lynch Global Small Cap Fund Inc

193,321 shares

4,802,084

Morgan Stanley Institutional Fund Inc

762,455 shares

18,405,675

Morgan Stanley Institutional Fund Trust Value Portfolio

126,459 shares

2,162,451

Pennsylvania Mutual Fund

705,578 shares

7,606,126

PIMCO CCM Capital Appreciation Fund

160,811 shares

3,179,243

PIMCO CCM Mid Cap Fund

189,224 shares

5,192,296

PIMCO Emerging Markets Bond Fund

935,305 shares

10,438,008

PIMCO High Yield Fund

534,690 shares

5,197,188

PIMCO Long-Term U.S. Government Fund

390,758 shares

4,298,342

PIMCO Total Return Fund

7,442,020 shares

78,141,211

*

Fidelity Institutional Cash Portfolio

117,814,438 shares

117,814,438

T. Rowe Price Growth Stock Fund

179,821 shares

5,106,914

TCW Galileo Select Equities Fund

80,389 shares

1,632,706

TCW Galileo Value Opportunities Fund

146,084 shares

3,215,301

Templeton Growth Fund

277,561 shares

6,370,033

Vanguard Convertible Securities Fund

110,304 shares

1,478,067

Wells Fargo Montgomery Emerging Markets Focus Fund

178,696 shares

5,139,298

Vanguard Growth Index Fund

153,500 shares

4,227,377

Vanguard Inflation-Protected Securities Fund

964,896 shares

9,388,435

Intel Corporation 401(k) Savings Plan

EIN: 94-1672743, Plan Number: 003

Schedule H, Line 4i — Schedule of Assets (Held At End of Year) (continued)

December 31, 2005

(c)

Description of investment

(b)

including maturity date,

(e)

Identity of issue, borrower,

rate of interest, collateral,

Current

(a)

lessor, or similar party

par, or maturity value

Value

Mutual funds (continued):

Vanguard Institutional Index Fund

2,275,706 shares

$

259,453,265

Vanguard-Intermediate-Term Treasury Fund

161,884 shares

1,769,393

Vanguard International Value Fund

597,361 shares

20,800,098

Vanguard Long-Term Bond Index Fund

430,793 shares

5,100,589

Vanguard Mid-Cap Index Fund

2,128,998 shares

37,619,402

Vanguard Small-Cap Growth Index Fund

410,765 shares

6,748,870

Vanguard Small-Cap Value Index Fund

366,045 shares

5,329,611

Vanguard Strategic Equity Fund

490,076 shares

10,747,362

Vanguard Windsor Fund

47,845 shares

2,769,275

Washington Mutual Investors Fund

133,501 shares

4,115,826

Total mutual funds

$

2,237,441,986

Common collective trust funds:

*

Pooled employee funds-daily liquidity fund

223,576 units

$

223,576

Barclays Global Investors NASDAQ-100 Index® Fund

4,300,872 units

28,686,815

*

EB Daily Liquidity Aggregate Bond Index Fund

2,268,659 units

24,158,494

*

EB Daily Liquidity Stock Index Fund

11,558,849 units

131,100,460

*

EB Daily Liquidity International Stock Index Fund

1,143,571 units

14,752,868

*

EB Daily Liquidity Small Cap Stock Index Fund

1,470,291 units

17,449,270

Barclays Global Investors Russell 1000 Value Fund

2,965,679 units

40,748,427

Total common collective trust funds

$

257,119,910

Intel Corporation 401(k) Savings Plan

EIN: 94-1672743, Plan Number: 003

Schedule H, Line 4i — Schedule of Assets (Held At End of Year) (continued)

December 31, 2005

(c)

Description of investment

(b)

including maturity date,

(e)

Identity of issue, borrower,

rate of interest, collateral,

Current

(a)

lessor, or similar party

par, or maturity value

Value

Common stock:

*

Intel Corporation

24,594,901 shares

$

613,888,717

Endurance Specialty Holdings, Ltd

800 shares

28,680

Ipc Holdings Ltd

1,338 shares

36,634

Platinum Underwriters Holdings

1,848 shares

57,417

AFC Enterprises Inc

600 shares

9,072

Atmi Inc

700 shares

19,579

Acuity Brands Inc

1,000 shares

31,800

Adesa Inc

786 shares

19,194

Advance American Cash Advance Centers

411 shares

5,096

Alabama National Bancorporation

200 shares

12,952

Alexandria Real Estate

486 shares

39,123

Apria Healthcare Group Inc

210 shares

5,063

Aptargroup Inc

1,300 shares

67,860

Bok Financial Corp

625 shares

28,393

Banner Corp

300 shares

9,360

Banta Corp

2,150 shares

107,070

Bel Fuse Inc

775 shares

24,645

Belden CDT Inc

1,050 shares

25,651

Borders Group Inc

500 shares

10,835

Borg Warner Inc

1,100 shares

66,693

Burlington Coat Factory

675 shares

27,142

CBRL Group Inc

500 shares

17,575

CEC Entertainment Inc

300 shares

10,212

CSG Systems International Inc

700 shares

15,624

CTS Corp

975 shares

10,783

Cabot Corp

500 shares

17,900

Cabot Oil & Gas Corp

500 shares

22,550

Cambrex Corp

800 shares

15,016

Intel Corporation 401(k) Savings Plan

EIN: 94-1672743, Plan Number: 003

Schedule H, Line 4i — Schedule of Assets (Held At End of Year) (continued)

December 31, 2005

(c)

Description of investment

(b)

including maturity date, rate

(e)

Identity of issue, borrower,

of interest, collateral, par, or

Current

(a)

lessor, or similar party

maturity value

Value

Common stock (continued):

Charming Shoppes Inc

6,050 shares

$

79,860

Checkpoint Systems Inc

700 shares

17,255

Chicago Bridge & Iron

1,500 shares

37,815

Ciber Inc

3,966 shares

26,176

Cimarex Energy Co

807 shares

34,709

Claires Stores Inc

875 shares

25,567

Clarcor Inc

2,050 shares

60,905

Columbia Banking Systems Inc

500 shares

14,275

Comstock Resources Inc

500 shares

15,255

Corn Products International Inc

492 shares

11,754

Covance Inc

4,125 shares

200,269

Dave & Busters Inc

600 shares

10,566

Duratek Inc

2,900 shares

43,297

El Paso Electric Co

1,247 shares

26,237

Elkcorp

1,625 shares

54,697

Energen Corp

1,552 shares

56,369

Energy East Corp

2,025 shares

46,170

Entercom Communications Corp

3,175 shares

94,202

Essex Property Trust Inc

300 shares

27,660

Fei Company

1,000 shares

19,170

Fairchild Semiconductor International

4,225 shares

71,445

Ferro Corp

2,200 shares

41,272

First Financial Bankshares Inc

300 shares

10,518

First Indiana Corp

195 shares

6,704

First Midwest Bancorp Inc

400 shares

14,024

First Place Financial Corp

400 shares

9,620

Forrester Research Inc

1,200 shares

22,500

4 Kids Entertainment

1,000 shares

15,690

Intel Corporation 401(k) Savings Plan

EIN: 94-1672743, Plan Number: 003

Schedule H, Line 4i — Schedule of Assets (Held At End of Year) (continued)

December 31, 2005

(c)

Description of investment

(b)

including maturity date, rate

(e)

Identity of issue, borrower,

of interest, collateral, par, or

Current

(a)

lessor, or similar party

maturity value

Value

Common stock (continued):

Fuller H B Co

1,775 shares

$

56,924

G & K Services Inc

450 shares

17,662

General Cable Corp

4,786 shares

94,284

General Communication Inc

3,125 shares

32,281

Georgia Gulf Corp

650 shares

19,773

Global Payments Inc

1,450 shares

67,584

Graco Inc

1,350 shares

49,248

Greif Inc

150 shares

9,942

Griffon Corp

1,950 shares

46,429

Harsco Corp

2,075 shares

140,083

Harte-Hanks Inc

3,675 shares

96,983

Home Properties Inc

715 shares

29,172

Houston Exploration Co

250 shares

13,200

Hyperion Solutions Corp

600 shares

21,492

ITLA Capitol Corp

200 shares

9,770

Iberiabank Corp

350 shares

17,854

Independent Bank Corp Mass

500 shares

14,265

Independent Bank Corp Mich

315 shares

8,577

Insight Enterprises Inc

925 shares

18,139

Integrated Device Technologies Inc

5,000 shares

65,900

Inter Tel Inc

1,117 shares

21,860

Interactive Data Corp

2,500 shares

56,775

Jack In The Box Inc

500 shares

17,465

Jacobs Energy Group Inc

400 shares

27,148

Journal Communications Inc

1,200 shares

16,740

Kadant Inc

600 shares

11,100

Kansas City Southern

825 shares

20,155

Kennametal Inc

1,050 shares

53,592

Intel Corporation 401(k) Savings Plan

EIN: 94-1672743, Plan Number: 003

Schedule H, Line 4i — Schedule of Assets (Held At End of Year) (continued)

December 31, 2005

(c)

Description of investment

(b)

including maturity date,

(e)

Identity of issue, borrower,

rate of interest, collateral,

Current

(a)

lessor, or similar party

par, or maturity value

Value

Common stock (continued):

Lakeland Financial Corp

300 shares

$

12,114

Landstar Systems Inc

470 shares

19,618

MAF Bancorp Inc

300 shares

12,414

MB Financial Inc

400 shares

14,160

M/I Homes Inc

525 shares

21,326

Macatawa Bank Corp

300 shares

10,914

Macerich Co

625 shares

41,963

Martin Marietta Materials Inc

400 shares

30,688

Meritage Homes Corp

600 shares

37,752

Mettler-Toledo International Inc

1,925 shares

106,260

Minerals Technologies Inc

500 shares

27,945

Molecular Devices Corp

2,300 shares

66,539

Moneygram International Inc

1,300 shares

33,904

Moog Inc

1,188 shares

33,715

Noble International Ltd

400 shares

8,336

Northwest Natural Gas Co

1,400 shares

47,852

Oceaneering International Inc

650 shares

32,357

Oxford Industries Inc

1,000 shares

54,700

Pff Bancorp Inc

575 shares

17,549

Pacer International Inc Tennessee

2,025 shares

52,772

Parkway Properties Inc

800 shares

32,112

Perot Systems Corp

2,900 shares

41,006

Philadelphia Consolidated Holdings Corp

125 shares

12,086

Prentiss Properties

700 shares

28,476

Prosperity Bancshares Inc

365 shares

10,490

RC2 Corp

900 shares

31,968

Rayonier Inc

1,762 shares

70,216

Readers Digest Association Inc

2,800 shares

42,616

Intel Corporation 401(k) Savings Plan

EIN: 94-1672743, Plan Number: 003

Schedule H, Line 4i — Schedule of Assets (Held At End of Year) (continued)

December 31, 2005

(c)

Description of investment

(b)

including maturity date,

(e)

Identity of issue, borrower,

rate of interest, collateral,

Current

(a)

lessor, or similar party

par, or maturity value

Value

Common stock (continued):

Rehabcare Group Inc

500 shares

$

10,100

Robbins & Myers Inc

1,288 shares

26,211

Ryder Systems Inc

250 shares

10,255

Ryland Group Inc

450 shares

32,459

Sl Green Realty Corp

425 shares

32,466

St Mary Land & Exploration Co

800 shares

29,448

Scholastic Corp

250 shares

7,128

The Scotts Miracle-Gro Company

2,800 shares

126,672

Seacoast Banking Corp of Florida

400 shares

9,180

Skechers U S A Inc

900 shares

13,788

Skywest Inc

900 shares

24,174

Smart & Final Inc

700 shares

9,016

Southwest Bancorp Inc

731 shares

14,620

Stancorp Financial Group Inc

550 shares

27,473

Standex International Corp

2,349 shares

65,208

Steak N Shake Co

1,225 shares

20,764

Swift Energy Co

500 shares

22,535

Sybase Inc

2,500 shares

54,650

Sykes Enterprises Inc

2,175 shares

29,080

Tanger Factory Outlet Center Inc

1,950 shares

56,043

Technitrol Inc

2,425 shares

41,468

Tenneco Inc

611 shares

11,982

Trustmark Corp

800 shares

21,976

URS Corp

2,594 shares

97,560

United Bankshares Inc W Virginia

800 shares

28,192

United Fire & Casualty

300 shares

12,129

United Stationers Inc

2,225 shares

107,912

Vectren Corp

3,525 shares

95,739

Intel Corporation 401(k) Savings Plan

EIN: 94-1672743, Plan Number: 003

Schedule H, Line 4i — Schedule of Assets (Held At End of Year) (continued)

December 31, 2005

(c)

Description of investment

(b)

including maturity date,

(e)

Identity of issue, borrower,

rate of interest, collateral,

Current

(a)

lessor, or similar party

par, or maturity value

Value

Common stock (continued):

Viad Corp

1,750 shares

$

51,327

WSFS Financial Corp

300 shares

18,375

Washington Group International Inc

1,745 shares

92,433

Wausu Paper Corp

1,800 shares

21,330

Werner Enterprises Inc

2,433 shares

47,930

West Coast Bancorp

478 shares

12,643

Zale Corp

1,250 shares

31,438

Total common stock

$

619,044,566

Interest at 4.75% – 11.50%,

*

Participant loans

maturing through 2030

$

52,071,825

Total investments

$

3,165,678,287

SIGNATURE

The Plan. Pursuant to the requirements of the Securities and Exchange Act of 1934, the Plan Administrator has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

		INTEL CORPORATION 401(k) SAVINGS PLAN
				(Full Title of the Plan)
Date: June 19, 2006		By:		/s/ Andy D. Bryant
				Andy D. Bryant
				Executive Vice President,
				Chief Financial and
				Enterprise Services Officer and Principal Accounting Officer