Why Intel Stock Jumped Today
(NASDAQ: INTC) stock jumped in Friday's trading following the publication of the company's third-quarter report. The semiconductor specialist's share price closed out the daily session up 7.8% and had been up as much as 9.6% earlier in the day's trading.
After the market closed yesterday, Intel published its Q3 results. The company's earnings for the period came in better than Wall Street's expectations after accounting for one-time impairment charges, and its revenue for the period also beat the average analyst forecast. The chip giant also issued better-than-anticipated forward guidance.
Intel posted a non-GAAP (adjusted) loss per share of $0.46 on revenue of $13.28 billion in Q3, but the company took $0.63 per share in adjusted impairment charges in the quarter. Meanwhile, the average analyst estimate had called for an adjusted loss of $0.02 per share on sales of $13.02 billion.
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%.
