Intel Stock Is Soaring. Can a Breakup Plan Save the Company?
Shares of Intel (NASDAQ: INTC) were on the move Friday in the wake of news reports that the company was considering the possibility of spinning off its manufacturing arm from its core chip design operation in order to rehabilitate itself and create value for shareholders.
That news came after a disastrous earnings report earlier this month that included weak results, disappointing guidance, the elimination of the stock's dividend, and a restructuring plan that will cut at least 15% of its workforce.
Investors, who have been eager for any signs of change at Intel, cheered the news, sending the stock up by 7.6% as of 1:10 p.m. ET.
Source Fool.com
Intel Corp. Stock
€18.33
-2.130%
Our community is currently low on Intel Corp. with 9 Buy predictions and 16 Sell predictions.
On the other hand, the target price of 19 € is above the current price of 18.33 € for Intel Corp., so the potential is actually 3.68%.
