Why Intel Stock Is Gaining Today
(NASDAQ: INTC) stock is climbing in Thursday's trading. The company's share price was up 4% as of 11:30 a.m. ET, according to data from S&P Global Market Intelligence.
Intel stock is gaining ground thanks to the very strong results that Nvidia (NASDAQ: NVDA) published in its second-quarter results yesterday. But while Nvidia's Q2 report was enough to power gains for Intel and other players in the artificial intelligence (AI) space, they weren't enough to push its own stock higher: The company's share price was down 3.5% as of this writing.
Investors were looking to Nvidia's Q2 report to provide indications about trends in the AI market, and the company delivered a wide range of positive indicators. The company reported non-GAAP (generally accepted accounting principles) adjusted earnings per share of $0.68 on revenue of $30 billion, which came in significantly better than the average analyst estimate's call for per-share earnings of $0.64 on sales of $28.7 billion.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 47 Buy predictions and 24 Sell predictions.
On the other hand, the target price of 74 € is below the current price of 78.19 € for Intel Corp., so the potential is actually -5.36%.
