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
Our community is currently high on Intel Corp. with 46 Buy predictions and 24 Sell predictions.
On the other hand, the target price of 70 € is below the current price of 87.92 € for Intel Corp., so the potential is actually -20.38%.
