Smarts
Friday, INTC stock was going up after the company’s chief technology officer said the company is on track to reach a revenue goal.
Reuters said that Chief Technology Officer Greg Lavender’s goal is to sell $1 billion worth of software. He is on track to reach this goal by the end of 2027, or maybe even earlier.
Lavender also said that Intel’s Gaudi 3 chip is in “lots of demand.”
Apple Inc. shares
The most valuable part of the Dow Jones Industrial Average, INTC 5.48%, went up 3.7% to $34.72.
DJIA went up 1.14 percent on Friday. The standard for the market went up by 0.7%.
This year, Intel stock has dropped 31%. Late in April, Intel gave revenue and earnings guidance that was lower than what Wall Street thought it would be. Investors are still waiting to hear good news about the company’s projects to make AI chips. On top of that, the personal computer market is still facing a problem with low demand.
There is one tech stock that has been left out of the AI buying boom, though. It looks like it might be about to turn a corner. If things go as planned, shares will have their best monthly gain since December 2023. They’ve already gone up 12% this month.
It looks like Lavender’s comments are just the kind of good news that investors have been waiting for.
