Why Intel Stock Is Skyrocketing Today
Shares of Intel (NASDAQ: INTC) were up by 8.4% as of 1:45 p.m. ET Thursday after having gained as much as 10.5% earlier in the session. At the time, the S 500 was up by 0.5% and the Nasdaq Composite had gained 0.8%.
Reports came out Wednesday that the semiconductor giant, which has fallen behind its peers in the age of AI, is in talks with Taiwan Semiconductor Manufacturing for a deal that would help its struggling manufacturing division. In a research note, Baird analyst Tristan Gerra said that, based on "discussions from the Asia supply chain," it was his understanding that Intel, TSMC, and the U.S. government are discussing plans that would include TSMC sending engineers to Intel's fabrication plants to improve them, creating a greater degree of parity between the two companies' manufacturing capabilities.
It is also possible that Intel's foundry division will be spun off into a new joint venture owned by Intel and TSMC.
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 75 € is below the current price of 79.18 € for Intel Corp., so the potential is actually -5.28%.
