Why Intel Stock Popped on Wednesday
Intel (NASDAQ: INTC) stock is getting a lift Wednesday from some interesting commentary out of investment banker R.W. Baird.
Writing about rumors out of Asia Wednesday morning, Baird analyst Tristan Gerra said there are "discussions from the Asia supply chain" regarding a potential tie-up between Intel and one of its biggest rivals in the semiconductor industry, Taiwan Semiconductor Manufacturing Company (NYSE: TSM). Details are scanty at this point, but investors seem to like the idea of the two forging closer ties, and as of 11:15 a.m. ET, Intel stock was up 3%.
At this point, the rumors are just that, and probably shouldn't be relied upon too much. Which is to say: Don't go getting irrationally exuberant over this. But with that caveat made, here's what Baird says is happening:
Source Fool.com
Intel Corp. Stock
Currently there is a rather negative sentiment for Intel Corp. with 14 Buy predictions and 19 Sell predictions..
This results in a negative potential of -25.14% based on a current price of 30.73 € and a target price of 23 € for the stock.
