Why Intel Stock Is Soaring Today
Shares of Intel (NASDAQ: INTC) are flying higher on Tuesday. The company's stock gained 6.6% as of 3 p.m. ET but was up as much as 10.7% earlier in the day. The gain comes as the S 500 slipped 0.1% and the Nasdaq Composite was down 0.2% on the day.
Intel announced yesterday that the head of its data center and artificial intelligence (AI) operations, Justin Hotard, was leaving the company for Nokia. This comes on the heels of the embattled chipmaker losing its CEO in December.
Intel has struggled to keep up with rivals in the uber-lucrative data center and AI space and its stock reflects this poor performance, down roughly 50% over the last year. Even though this news brings some uncertainty, the departure of the person in charge of this crucial yet failing division was welcomed by investors looking for a turnaround.
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%.
