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Why Intel Stock Is Soaring Today

TheMotleyFool

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Why Intel Stock Is Soaring TodayPhoto, wide shot, wide-angle lens, Artificial intelligence developer, sunset photo at golden hour, photo by Art Wolfe: https://img.theapi.app/temp/12e2798a-1095-4653-8f49-2a7aee633b4e.png

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.

Source Fool.com

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