Why Intel Corp. Stock Jumped More Than 8% Today
Shares of Intel (NASDAQ: INTC) soared on Friday, rising 8.3% as of 2:40 p.m. Eastern time, and reaching prices not seen since the dot-com bubble. A rock-solid earnings report provided fuel for the fire.
Intel's third-quarter revenues rose 2.4% year over year, landing at $16.1 billion. On the bottom line, adjusted earnings increased by 26% to stop at $1.01 per diluted share. Analysts had been looking for earnings of roughly $0.80 per share on sales in the neighborhood of $15.7 billion.
Looking ahead, Intel's management guided fourth-quarter revenues to approximately $16.1 billion and non-GAAP earnings to $0.86 per share. The sales target was in line with the average Wall Street view, while the earnings goal is in line with the highest available estimates from an analyst group composed of 32 different firms.
Source: Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 25 Buy predictions and 11 Sell predictions.
With a target price of 42 € there is a positive potential of 46.32% for Intel Corp. compared to the current price of 28.71 €.
