Here’s Why Intel Stock (NASDAQ:INTC) Rose Yesterday - TipRanks.com

Shares of Intel rose nearly 3% after CEO Pat Gelsinger announced that the chip maker had exceeded its revised Q3 revenue guidance, with a resumption in demand for personal computer processors driving the boost. Gelsinger also expressed optimism about Intel's entry into the foundry business, highlighting the potential for substantial growth and the prepayment received from a major customer for its manufacturing capacity. The company's emphasis on advanced packaging capabilities is expected to significantly benefit the foundry business, while analysts currently hold a consensus rating of "Hold" on Intel stock.

tipranks.com

Relevant topic timeline:

8/24/2023

Intel Stock: Maybe The Best AI Investment (NASDAQ:INTC)

Intel Corporation's stock has increased by 50% since reaching a bottom below $25, but it is still in a downtrend and must surpass the $40 to $42 resistance level to enter an uptrend; despite its negative sentiment, the company is expecting higher earnings per share in the future and offers a cheap valuation compared to its competitors.

8/31/2023

Why Intel Stock Topped the Market on Thursday

Intel's stock rose nearly 2% after CEO Pat Gelsinger expressed optimism about the company's current quarter and announced the launch of a new data center chip.

9/1/2023

Intel guidance, foundry comments 'clearly a positive,' but company still at risk: Citi

Investment firm Citi believes that Intel's prepayment for its foundry business is a positive development, but they still recommend that Intel exit the foundry business due to limited chances of success; meanwhile, Intel's CEO Pat Gelsinger announced a prepayment from an unidentified customer for their upcoming technology node.

9/4/2023

Intel Is Betting Artificial Intelligence Will Escape the Cloud

Intel CEO Pat Gelsinger believes that AI will extend beyond data centers and wants to put AI into everything, including PC CPUs, to bring AI processing closer to end users and enable real-time applications without relying on the cloud. Intel is positioning itself to tap into the growing demand for AI hardware and software across various sectors.

9/7/2023

Intel Stock Heads Higher Even as U.S.-China Chip War Worries Mount

Intel stock is performing well despite concerns about the U.S.-China chip war.

9/19/2023

Intel Stock Rises as Analyst Highlights Company's Advances in AI Chips

Intel's stock is rising as an analyst suggests investors should pay attention to the company's efforts in artificial intelligence.

9/19/2023

Intel Unveils New Chips with More Cores, AI Capabilities But Analysts Cautious on Stock

Intel showcased new chips at its innovation event, including Xeon processors and Core Ultra processors, but investors were unimpressed as the stock slipped nearly 2% in trading.

Topics

Posted 9/1/2023, 8:55:52 AM

Here’s Why Intel Stock (NASDAQ:INTC) Rose Yesterday - TipRanks.com

tipranks.com

Relevant topic timeline:

8/24/2023

Intel Stock: Maybe The Best AI Investment (NASDAQ:INTC)

8/31/2023

Why Intel Stock Topped the Market on Thursday

Intel's stock rose nearly 2% after CEO Pat Gelsinger expressed optimism about the company's current quarter and announced the launch of a new data center chip.

9/1/2023

Intel guidance, foundry comments 'clearly a positive,' but company still at risk: Citi

9/4/2023

Intel Is Betting Artificial Intelligence Will Escape the Cloud

9/7/2023

Intel Stock Heads Higher Even as U.S.-China Chip War Worries Mount

Intel stock is performing well despite concerns about the U.S.-China chip war.

9/19/2023

Intel Stock Rises as Analyst Highlights Company's Advances in AI Chips

Intel's stock is rising as an analyst suggests investors should pay attention to the company's efforts in artificial intelligence.

9/19/2023

Intel Unveils New Chips with More Cores, AI Capabilities But Analysts Cautious on Stock

Intel showcased new chips at its innovation event, including Xeon processors and Core Ultra processors, but investors were unimpressed as the stock slipped nearly 2% in trading.