Why Intel Rose Today Even as Chip Stocks Were Down
Shares of (NASDAQ: INTC) were curiously on the rise today, up 3.2% in Thursday trading even as most other semiconductor stocks were down markedly on the day.
When U.S.-China tensions rise, it can cause a broad sell-off in most semiconductor stocks. That was also true today, as it was reported yesterday China may ban government agencies from using iPhones. That not only caused a sell-off in Apple (NASDAQ: AAPL) but also in a host of its suppliers and semiconductor equipment stocks as well.
The sell-off may or may not have merit, with some analysts calling the worries "overblown." Still, when U.S.-China tensions mount, it is often Intel that actually sees gains as others lose.
Source Fool.com
Intel Corp. Stock
€29.25
-0.970%
Currently there is a rather positive sentiment for Intel Corp. with 26 Buy predictions and 13 Sell predictions.
As a result the target price of 40 € shows a positive potential of 36.78% compared to the current price of 29.25 € for Intel Corp..
