Intel (INTC) Shares Skyrocket, What You Need To Know

StockStory
03-14
Intel (INTC) Shares Skyrocket, What You Need To Know

What Happened?

Shares of computer processor maker Intel (NASDAQ:INTC) jumped 16.6% in the morning session after the company named Lip-Bu Tan, the former chief executive of Cadence Design Systems, as its new CEO. Following the announcement, Bank of America analysts decided it was time to change their tune, upgrading Intel from Sell to Hold. Their improved outlook is related to Tan's solid track record as they believed with him at the helm, there's a better shot at turning things around. They also raised their price target to $25.

Is now the time to buy Intel? Access our full analysis report here, it’s free.

What The Market Is Telling Us

Intel’s shares are very volatile and have had 27 moves greater than 5% over the last year. But moves this big are rare even for Intel and indicate this news significantly impacted the market’s perception of the business. 

The previous big move we wrote about was 8 days ago when the stock dropped 5.2% amid growing worries that the Trump administration might repeal the CHIPS Act, which had been a big driver of government contracts. President Trump called the CHIPS Act "horrible, horrible thing" during a meeting with Congress. If repealed, Intel could take a serious hit, especially in its Foundry segment, which has been banking on government support to stay competitive.

Intel is up 16.7% since the beginning of the year, but at $23.60 per share, it is still trading 47% below its 52-week high of $44.52 from March 2024. Investors who bought $1,000 worth of Intel’s shares 5 years ago would now be looking at an investment worth $433.49.

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