Why Intel Popped, but AMD and Nvidia Dropped Today
It's Jan. 5 and at long last, the 2022 Consumer Electronics Show (CES 2022) is underway in Las Vegas.
In contrast to last year's fully virtual event, this year's CES is going the hybrid route, with some exhibitors coming in person while others appearing only virtually. One thing that is definitely not virtual -- but real -- is the effect that the CES presentations seem to be having on tech stock prices, and semiconductor stocks in particular.
As chipmakers demo their wares today, shares of Intel (NASDAQ: INTC) (a "featured exhibitor" at CES 2022) are enjoying a nice 2.4% pop in afternoon trading, as of 2:22 p.m. ET. In contrast, Intel rivals Nvidia (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD) are moving in the opposite direction -- down 4.3% and 4.6%, respectively.
Source Fool.com
