Why Intel Stock Is Up Big Today
(NASDAQ: INTC) stock is making big gains in Tuesday's trading. The semiconductor giant's share price was up 4.7% as of 1:45 p.m. ET, according to data from S&P Global Market Intelligence.
Intel stock is climbing following news that the company will be building a $25 billion new manufacturing facility in Israel. The country's government will be providing $3.2 billion to help fund the production of the facility.
Intel's new production plant will be built as an expansion of its current facility in Kiryat Gat, Israel. According to a statement released by Israel's government and the chip giant, the $25 billion that will be spent to build the new semiconductor fabrication plant represents the largest ever outside investment in the country. Intel already has roughly 12,000 workers in Israel, but the planned facility represents a major expansion initiative and should significantly bolster its production capabilities.
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 78.05 € for Intel Corp., so the potential is actually -5.19%.
