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
€87.09
0.540%
Our community is currently high on Intel Corp. with 46 Buy predictions and 24 Sell predictions.
On the other hand, the target price of 72 € is below the current price of 87.09 € for Intel Corp., so the potential is actually -17.33%.
