Why Intel Stock Zoomed Higher on Monday
(NASDAQ: INTC), which hopes to regain its once-powerful position on the chip market, has made an important hire for a critical manufacturing unit. It chose a veteran in that industry, and investors rewarded the company by pushing its stock more than 2% higher on Monday. That performance looked good when compared to the flat trajectory of the S 500 index on the day.
That hire is Kevin O'Buckley, whose tenure started that day. As general manager of Intel's foundry services, its contract chip-making unit, O'Buckley will report directly to CEO Pat Gelsinger. The incoming chief succeeds Stuart Pann, who is retiring from the company after a 35-year tenure but will serve as an advisor to its operations.
O'Buckley is a longtime veteran of the semiconductor industry. Immediately prior to his hiring at Intel, he was senior vice president at Marvell Technology where in a nearly five-year stint he served as general manager of that company's application-specific integrated-circuits (ASIC) business, among other positions.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 46 Buy predictions and 25 Sell predictions.
On the other hand, the target price of 70 € is below the current price of 88.63 € for Intel Corp., so the potential is actually -21.02%.
