Why Intel, Qualcomm, and Silicon Motion Stocks All Jumped Today
Semiconductor stocks are ending the week on a high note as shares of chip giant (NASDAQ: INTC) gain 5.8% through 10:35 a.m. Friday after beating earnings last night.
More than just good news for Intel, the results are also helping to pull up shares of both Silicon Motion (NASDAQ: SIMO) -- up 14.1% despite missing earnings -- and Qualcomm (NASDAQ: QCOM) -- up 2.7% even though it didn't report earnings at all.
Intel reported $0.13 per share in earnings, "adjusted" for what Intel considers one-time items, on sales of $12.9 billion. These numbers exceeded Wall Street's prediction that Intel would report an adjusted loss of $0.03 per share, and that $12.9 billion in sales was a heck of a lot better than the $11 billion in sales that analysts had forecast. What's more, when calculated according to generally accepted accounting principles (GAAP), Intel's results were...actually even better.
Source Fool.com
Intel Corp. Stock
Currently there is a rather positive sentiment for Intel Corp. with 28 Buy predictions and 15 Sell predictions.
Based on the current price of 17.04 € the target price of 38 € shows a potential of 123.0% for Intel Corp. which would more than double the current price.
