Why Intel Stock Shot Higher on Wednesday
A onetime investor darling that has somewhat fallen out of favor, Intel (NASDAQ: INTC) had a good session on the stock market Wednesday. On news of an adjustment in its corporate structure, investors traded the chipmaker's share price up by nearly 1.5%.
That morning, Intel announced that it would be restructuring its graphics hardware operations in order to become more competitive. The accelerated computing systems and graphics group, abbreviated as AXG, will be split in two. One successor division will concentrate on high-performance computing (HPC), and another will focus on the gaming market.
AXG's leader Raja Koduri will return to his previous job as Intel's chief architect. Employees under his management will be shifted to either the company's PC or server chip units.
Source Fool.com
