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
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%.
