Why Did Intel Stock Skyrocket 27% This Week?
Shares of Intel (NASDAQ: INTC) are flying this week, up 27% as of market close on Thursday. The jump comes as the S 500 and Nasdaq-100 gained 0.7% and 1.5%, respectively.
The chipmaker's stock exploded this week after Nvidia announced a $5 billion investment and "multigeneration" partnership agreement with Intel.
On Thursday, Nvidia said it is investing $5 billion into the struggling company at a purchase price of $23.28 a share. Under the partnership terms, Intel will make custom CPUs that Nvidia will use in its AI data center platforms. Intel will also make use of Nvidia's technology to enhance its PC offerings.
Source Fool.com
Intel Corp. Stock
€34.73
-2.330%
Currently there is a rather negative sentiment for Intel Corp. with 14 Buy predictions and 18 Sell predictions..
This results in a negative potential of -36.65% based on a current price of 34.73 € and a target price of 22 € for the stock.
