Why Intel Stock Is Soaring Today

Shares of Intel (NASDAQ: INTC) jumped on Friday following a strong fourth-quarter report and guidance calling for growth in 2020. The PC-centric business grew slightly despite increased competition from Advanced Micro Devices, and the data-centric business posted strong growth thanks to improving cloud demand. Intel stock was up 7.3% at 10:30 a.m. EST.

Intel reported fourth-quarter revenue of $20.2 billion, up 8% year over year and $980 million above the average analyst estimate. Sales of PC chips were up 2% to $10 billion, while revenue in the data center group soared 19% to $7.2 billion.

Image source: Intel.

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Source Fool.com