Why Intel Stock Gained Today
(NASDAQ: INTC) stock gained ground in Wednesday's trading. The semiconductor company's share price ended the daily session up 2.5%, according to data from S&P Global Market Intelligence.
News emerged today that Intel is planning to build a new chip fabrication plant in Ireland. According to the reports, the semiconductor specialist is looking to secure $2 billion in funding from outside investors before moving ahead with the project.
Intel already has a manufacturing plant and a research facility in Ireland, and it's not surprising to hear that the company is looking to build a new fab location in the country. The semiconductor company is making moves to ramp up its fabrication capabilities and is already planning to build new manufacturing hubs in the U.S., Germany, and Israel. Additionally, operating in Ireland offers some substantial tax benefits.
Source Fool.com
Intel Corp. Stock
Currently there is a rather positive sentiment for Intel Corp. with 22 Buy predictions and 12 Sell predictions.
As a result the target price of 38 € shows a positive potential of 33.33% compared to the current price of 28.5 € for Intel Corp..
