Intel Corporation (INTC) shares surged over 8% in Tuesday’s trading after reports revealed that Apple was set to end support for Intel processors in its Mac computers. The news was not entirely unexpected, as Apple had promised to continue supporting Intel processors for years to come.
However, analysts believe the shift could benefit Intel, particularly due to recent talks with China and a potential boost from the US Department of Defense’s plan to implement “zero trust” guidance for military systems. This guidance is expected to provide specific cybersecurity protections for various systems, including those used by the military.
As of Tuesday, Intel shares are up 7.81% in value. Despite facing challenges, including a 33.76% loss over the past year, analysts maintain a Hold consensus rating on INTC stock, with an average price target of $21.29 per share.
Source: https://www.tipranks.com/news/intel-stock-nasdaqintc-blasts-up-as-mac-support-dies