Why Intel Stock Cruised to a 3% Gain Today
A new chipmaking rival might be arriving on the scene before long, but that only bolstered sentiment on one of the sector's top incumbents on Friday. Investors flocked to (NASDAQ: INTC) stock on the news, pushing its share price 3% higher. That performance notably exceeded the gain of the S 500 index, which despite a generally good day for stocks didn't come close, with its 1.2% rise.
That morning, Bloomberg reported that Sam Altman, CEO of privately held tech darling OpenAI, intends to build a network of semiconductor manufacturing factories.
Citing unidentified "several people with knowledge of the plans," the financial media outlet said that Altman has held talks with a number of potential investors to provide the funding for such a project. Building out a chain of such facilities would be vastly expensive, as would the funding requirements to keep such an effort operational.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 22 Buy predictions and 12 Sell predictions.
With a target price of 37 € there is a positive potential of 27.13% for Intel Corp. compared to the current price of 29.11 €.
