Why Intel Stock Is Soaring Today
Shares of (NASDAQ: INTC) are surging on Monday. The company's stock had gained 6.8% at noon ET and was up as much as 8.7% earlier in the day. The strong performance comes as the S 500 index remained flat and the Nasdaq Composite index fell 0.4%.
The chipmaker's stock is rallying after reports emerged detailing incoming CEO Lip-Bu Tan's plans for a significant strategic overhaul.
Reuters reported today that Intel's incoming CEO, Lip-Bu Tan, is considering sweeping changes that could overhaul the struggling company. Tan plans to shift the company's approach to artificial intelligence (AI) and make significant staff cuts aimed at addressing a "slow-moving and bloated middle management layer." Tan told employees last week that the company will need to make "tough decisions," signaling he will take a more aggressive approach than his predecessor.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 22 Buy predictions and 18 Sell predictions.
On the other hand, the target price of 29 € is below the current price of 38.65 € for Intel Corp., so the potential is actually -24.97%.
