Why Intel Stock Popped on Monday
On a moderately good day for tech stocks with the up 0.7% as of 1 p.m. ET, shares of (NASDAQ: INTC) are doing better than most, and gaining 2.5%.
That sounds like good news -- but the reasons for Intel's gains seem tenuous at best.
Two news items seem to be supporting Intel stock today. In the first, the U.S.-based Semiconductor Industry Association trade group is urging the Biden administration to soften its stance on China, and "refrain from further restrictions" on chips companies such as Intel selling their wares there. But not only is SIA's suggestion not guaranteed to affect government policy, if it's rejected, there's the potential for companies like Intel to suffer from retaliatory action, specifically, a Chinese threat to throttle exports of semiconductor raw materials such as gallium and germanium, as Reuters reports today.
Source Fool.com
Intel Corp. Stock
Currently there is a rather positive sentiment for Intel Corp. with 46 Buy predictions and 24 Sell predictions.
However, we have a potential of -20.38% for Intel Corp. as the target price of 70 € is below the current price of 87.92 €.
