How Do You Bet Against Intel’s Red-Hot Stock Right Now?
7 minutes ago
Not long ago, it was hard to find people who were excited about Intel’s stock.
But these days, even skeptics are finding it difficult to look away, with President Donald Trump’s recent endorsement, a high-profile investment from Nvidia (NVDA), and rumors swirling about still more deals—leaving some investors wondering whether persistent concerns about the chipmaker’s business should be overlooked to get in on the action.
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“We have been of the belief that Intel remains fundamentally challenged though have been terrified to short it,” Bernstein analysts wrote Thursday. “As much as we hate to admit it ‘Trump wants the stock to go up’ may in fact be a valid bull case for now (not one we are prepared to make but given everything that is happening we wouldn’t talk you out of it for now).”
Intel’s (INTC) stock jumped nearly 9% Thursday to close around $34. A report that Apple (AAPL) could be the the struggling chipmaker’s next big investor has extended a torrid run over the past week since the struggling chipmaker announced Nvidia’s $5 billion pledge. The shares have added roughly 70% of their value this year, though they remain well off their 2021 highs.
Seaport Research Partners analysts, who upgraded the stock to neutral from a bearish rating this week, said they expect the trend could continue—at least in the near term. “The stock is likely to be driven by follow-on investments,” they wrote, though signs of improving fortunes at Intel’s foundry business are also vital. (Seaport said it remained “cautious on the company’s longer-term fundamentals.”
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Stock Futures Little Changed Ahead of PCE Reading
42 minutes ago
Futures tied to the Dow Jones Industrial Average were up 0.1%.
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S&P 500 futures were little changed.
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Nasdaq 100 futures slipped 0.1%.