Intel’s shares surged 9.3% to close at $21.49 in the last trading session, driven by solid volume and a strong performance in the AI sector. The company recently introduced its Core Ultra (Series 2) processors, designed to redefine mobile computing for various use cases.
Intel is taking initiatives to gain a foothold in the expanding AI sector, with the goal of prioritizing AI integration across its processors and platforms in 2025. The company has also expanded its strategic collaboration with Microsoft, aiming to launch Copilot+ PCs for commercial customers.
Despite earnings and revenue growth expectations being down from previous quarters, Intel’s stock price has shown optimism due to takeover speculations. However, it’s essential to monitor the consensus EPS estimate revisions, as a strong correlation exists between trend changes in these estimates and near-term stock price movements.
Intel currently carries a Zacks Rank #3 (Hold), while STMicroelectronics STM holds a Zacks Rank of #5 (Strong Sell).
Source: https://finance.yahoo.com/news/intel-intc-moves-9-3-150900599.html