Why Intel Stock Jumped Today
(NASDAQ: INTC) stock gained ground Monday following reports that Apollo Global Management is interested in making a big investment in the company. The semiconductor specialist's share price closed out the daily session up 3.3%. Shares had been up as much as 4.5% earlier in the day.
On Sunday, Bloomberg published a report stating that Apollo was interested in investing as much as $5 billion in Intel. The news followed reports published last Friday that Qualcomm was interested in acquiring parts of Intel's business or pursuing a full-on merger.
Intel's business has been struggling as it aims to fend off competition, gain ground in artificial intelligence (AI), and build up its third-party chip fabrication business. Along with worse-than-expected earnings and forward guidance, the second-quarter report published by the company in August arrived with news that the company is pursuing major restructuring initiatives and plans to lay off 15% of its global workforce. At the same time, the company is also facing the need to make big investments if it hopes to be a real player in AI and improve and ramp up its fabrication capabilities.
Source Fool.com
Intel Corp. Stock
Currently there is a rather positive sentiment for Intel Corp. with 31 Buy predictions and 12 Sell predictions.
As a result the target price of 38 € shows a very positive potential of 77.61% compared to the current price of 21.4 € for Intel Corp..
