Why Intel Stock Popped on Monday
Intel (NASDAQ: INTC) stock gained 4.1% through 9:45 a.m. ET Monday morning after CNBC reported this morning that the U.S. Commerce Department is close to awarding Intel an $8 billion subsidy to assist with expanding its semiconductor chip operations.
The Wall Street Journal had previously reported (last week) that this grant was on the way.
One quirk to this story is that last week, WSJ indicated Intel was in line for an $8.5 billion grant for factory-building, on top of a separate $3 billion award to build chip plants geared to production of semiconductors for the U.S. military. CNBC notes that the government appears to have shaved down the size of the first grant by $500 million, to $8 billion, "due to uncertainties about Intel's ability to execute on its investment commitment, and because of Intel's shifting technology roadmap and customer demand."
Source Fool.com
Intel Corp. Stock
Currently there is a rather negative sentiment for Intel Corp. with 13 Buy predictions and 19 Sell predictions..
This results in a negative potential of -44.49% based on a current price of 41.44 € and a target price of 23 € for the stock.
