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Don’t Look Now but Intel Corporation (INTC) Stock Is at 10-Year High

INTC stock was left for dead, but now it's on a roll

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I can’t remember the last time I wrote about Intel Corporation (NASDAQ:INTC) and INTC stock, so the fact I drew this assignment is exciting — if for no other reason than I get to revisit one of the great California tech stories of the last 50 years.

Boy, is INTC stock hot! It’s up 18% in the last three months through Oct. 9. In fact, only a day earlier, Intel hit a 10-year high of $39.89 a share.

I’ve been so preoccupied with the battle between Nvidia Corporation (NASDAQ:NVDA) and Advanced Micro Devices, Inc. (NASDAQ:AMD) that I completely lost track of what’s going on in Santa Clara.

So, what is going on that’s got investors all hot and bothered? To get me up to speed, I’ve turned to some of my good friends at InvestorPlace for answers.

Intel’s Reach is Widening

Feature writer James Brumley covered a trio of Intel news stories Oct. 9, all of which suggested the company is widening its reach into all the places it needs to if it wants to be a player in the modern tech world.

While its reasonably priced Coffee Lake CPUs allow it to compete effectively with AMDs Ryzen processors, it’s the company’s move into Tesla Inc (NASDAQ:TSLA) that’s got “future” written all over it.

“Intel appears to have edged out NVIDIA as the provider of the silicon-based brain of Tesla’s infotainment system… Truth be told, there’s room for all three companies’ technologies [Intel, Nvidia and AMD] in the popular electric cars,” Brumley stated. “It’s a high-profile moral victory all the same though, bringing Intel back into the autonomous car landscape where it can also (re)tout the fact that it now owns Mobileye, which is arguably still the big name in self-driving automobile technologies.”

Tesla might be having a heck of a time ramping up production of the Model 3, but it’s still a company you want to be associated with when it comes to technology and electric cars. The other being Alphabet Inc (NASDAQ:GOOGL, NASDAQ:GOOG) and its Waymo self-driving car, which Brumley suggests Intel has been working on since 2009.

2017 Second-Quarter Earnings

InvestorPlace’s Tom Taulli covered Intel before its second-quarter earnings report July 27. On the top- and bottom-line, analysts were expecting $14.4 billion in revenue and $0.68 in earnings; they came in at $14.8 billion in revenue and $0.72 in earnings — a double beat. INTC stock has been on the rise ever since.

Taulli’s most significant concerns heading into that report were two-fold: First, how was Intel doing on the artificial intelligence and Internet-of-Things front? And, secondly, how was the integration of its acquisitions, including Mobileye, coming along?

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Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC