What's Going On With Intel Stock?
Intel Corporation (NASDAQ:INTC) shares are trading higher Tuesday as investors continue to speculate on a possible takeover by Qualcomm, Inc. (NASDAQ:QCOM).
The Details:
Reports indicate that Qualcomm, led by CEO Cristiano Amon, is considering acquiring Intel as part of its diversification efforts. The deal would merge two of the world’s major chipmakers, impacting sectors including smartphones, PCs and servers.
However, Stacy Rasgon, a prominent chip analyst from Bernstein, expressed skepticism about the potential deal.
"Is Intel desperate enough to seriously consider something like this? We're not so sure," Rasgon wrote.
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What Else:
On Tuesday, Intel launched its Xeon 6 with Performance-cores (P-cores) and Gaudi 3 AI accelerators, bolstering the company’s commitment to deliver powerful AI systems with optimal performance per watt and lower total cost of ownership (TCO).
“Demand for AI is leading to a massive transformation in the data center, and the industry is asking for choice in hardware, software and developer tools,” said Justin Hotard, Intel executive vice president and general manager of the Data Center and Artificial Intelligence Group.
“With our launch of Xeon 6 with P-cores and Gaudi 3 AI accelerators, Intel is enabling an open ecosystem that allows our customers to implement all of their workloads with greater performance, efficiency and security,” Hotard added.
Should I Sell My INTC Stock?
When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.
Shares of Intel have decreased by 32.61% in the past year. An investor who bought shares of Intel at the beginning of the year would take a loss of $25.0 per share if they sold it today. The stock has risen 13.25% over the past month, meaning an investor who bought shares on Aug. 1 would see a capital gain of $1.32.
Intel shares have an all-time high of $56, representing 145.65% upside from current levels.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Intel stock currently has an RSI of 83.7, indicating overbought conditions.
For access to advanced charting and analysis tools and stock data, check out Benzinga PRO. Try it for free.
INTC Price Action: According to Benzinga Pro, Intel shares are up 2.13% at $23.03 at the time of publication Tuesday.
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