Why Intel Stock Nearly Doubled in 2023
Shares of semiconductor giant (NASDAQ: INTC) rose 90.1% in 2023, according to data from S&P Global Market Intelligence. The stock started last year from a bargain-bin low amid a shaky economy and intense competition. On top of that, many Intel investors weren't entirely comfortable with the company's new business strategy.
But Intel went from strength to strength in 2023, posting robust financial results all year while the troubles of yesteryear faded out. And, of course, the ongoing artificial intelligence (AI) boom didn't hurt Intel at all.
2022 was a painful year for the chip titan. The shortage in semiconductor manufacturing capacity that started in 2021 was still raging. The global economy suffered the worst portion of the recent inflation crisis, limiting the appetite for high-end electronics with Intel components.
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..
