Why Intel Stock Is Jumping Today
(NASDAQ: INTC) stock is seeing significant gains in Wednesday's trading. The semiconductor company's share price was up 3.5% as of 2:15 p.m. ET and had been up as much as 3.8% earlier in the daily sessions.
Intel stock is gaining ground today as investors are becoming more confident that the company is on track to receive the $19.5 billion in federal funding it's slated to receive through the CHIPS Act. Business and government leaders in four states are making a push for the dispersal of funds stemming from the legislation prior to Donald Trump taking office next year.
However, there are reasons to think that Intel will receive the capital injection that's been outlined, even with the upcoming change in administration.
Source Fool.com
Intel Corp. Stock
€78.19
-0.780%
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%.
