Why Intel Stock Jumped 11% After Earnings
Beleaguered semiconductor manufacturer (NASDAQ: INTC) had a rare bit of good news for investors Friday, and it's driving Intel shares up a solid 11% through 10:05 a.m. ET this morning.
Wall Street analysts had forecast Intel would earn only $0.22 per share (adjusted for one-time items) in the third quarter of 2023, but Intel actually earned $0.41 per share (also adjusted). What's more, Intel's sales for the quarter came in at a strong $14.2 billion, versus a Street forecast of only $13.5 billion.
The news wasn't all good.
Source Fool.com
Intel Corp. Stock
€84.12
-0.470%
Our community is currently high on Intel Corp. with 46 Buy predictions and 25 Sell predictions.
On the other hand, the target price of 74 € is below the current price of 84.12 € for Intel Corp., so the potential is actually -12.03%.
