Why Intel Shares Rallied Today on a Bad Day for Other Chip Stocks
Shares of (NASDAQ: INTC) rallied as much as 8.2% today, before settling back into a 2.4% gain as of 12:40 p.m. ET.
While that gain in and of itself wasn't especially notable in isolation, it was quite notable in light of the big declines across most of the rest of the semiconductor sector. For instance, the VanEck Semiconductor ETF (NASDAQ: SMH) was down around 5% at the same time Intel was up 2.4%.
The discrepancy likely had to do with comments from former President Donald Trump, which raised questions as to whether the U.S. would defend Taiwan in the event of a Chinese invasion.
Source Fool.com
Intel Corp. Stock
€30.37
0.080%
Currently there is a rather positive sentiment for Intel Corp. with 25 Buy predictions and 12 Sell predictions.
As a result the target price of 37 € shows a positive potential of 21.85% compared to the current price of 30.37 € for Intel Corp..
