The past year has been a rewarding one for (NASDAQ: INTC) investors as shares of the chipmaker have jumped 46% on the stock market. Its stock has jumped 34% just since the company released its third-quarter results on Oct. 26. Chipzilla's revenue and earnings crushed Wall Street's expectations, and the guidance was also well ahead of consensus estimates.

Let's look at the factors driving Intel stock's latest rally and see if it could sustain the same over the next year.

Intel was hit hard by the downturn in the personal computer (PC) market over the past couple of years. Market research firm IDC points out that PC shipments declined 16.5% in 2022, and the trend has continued this year. PC shipments were down 7.6% year over year in the third quarter of 2023.

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Source Fool.com