Why Intel Stock Is Jumping Today
(NASDAQ: INTC) stock is gaining ground in Monday's trading. The semiconductor company's share price was up 4% as of 2 p.m. ET. At the same point in time, the S 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) were up 0.7% and 1.1%, respectively.
Intel stock is climbing higher today following recent news that Lyft will be using Mobileye's (NASDAQ: MBLY) machine-vision and autonomous driving technologies for its upcoming robotaxi service. Intel is Mobileye's majority shareholder, and it stands to benefit if the machine-vision specialist scores major contract wins.
TechCrunch published a report this morning stating that Lyft will be using Mobileye's tech for a new robotaxi service that could launch as early as 2026. The new, self-driving vehicle offering is scheduled to launch in Dallas, and then expand into other major cities.
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%.
