Intel Stock (INTC) Closes 15% Higher on New CEO, Nasdaq 2% Down
Today stock markets turned bearish, with Amazon stock falling 2.5%, while Intel had a stellar performance. closing $3 higher.
US stock markets attempted a bullish reversal yesterday, with strength in IT and AI sectors helping the Nasdaq and S&P 500 gain ground despite ongoing trade concerns. However, the downtrend resumed today, continuing last week’s weak performance, with the Dow Jones (DJIA) leading losses among major US indices.
Intel Rebounds Sharply on TSMC Partnership Speculation
Intel (INTC) has seen significant volatility in recent weeks. After rising 40% in early February, the stock turned bearish mid-month, plunging to $19.29 on Tuesday. However, yesterday, INTC opened with a bullish gap above $20, and today, another gap higher pushed the price up $3 following reports that TSMC is reconsidering a partnership with Intel.
Rumors suggest that TSMC has proposed a joint venture with Nvidia and AMD to help manage Intel’s chip business, fueling optimism among investors. Although no official confirmation has been made, speculation that such a deal could boost Intel’s turnaround efforts has significantly improved market sentiment toward the stock.
Trump’s Push for US Semiconductor Production & Leadership Shakeup
Following Intel’s struggles last year, Donald Trump has taken steps to revive semiconductor manufacturing in the US, potentially positioning Intel for government-backed support. Additionally, Intel announced the hiring of Lip-Bu Tan as its new CEO, a highly respected technology leader with deep experience in the semiconductor industry.
Tan’s appointment marks a major leadership shift as Intel aims to regain its competitive edge in the chip market. Following the announcement, Bank of America upgraded Intel from “Underperform” to “Neutral,” citing Tan’s strong leadership track record and potential to lead a successful turnaround.
Intel Shares Closes 15% Higher After Strong Rally
Throughout the session, INTC shares continued to climb, reaching an intraday high of $24.52 before settling at $23.70, marking a 15% gain from yesterday’s close of $20.70.
Nasdaq Live Chart
ABOUT THE AUTHOR
See More
Sidebar rates
Related Posts
SaveAdd 3440
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals