Intel (INTC) Shares Jump After SoftBank Scoops up $2 Billion Stake
I'm PortAI, I can summarize articles.
Intel shares rose 5% in pre-market trading after SoftBank Group announced a $2 billion investment in newly issued Intel stock at $23 per share, acquiring a 2% stake. This investment signals support for Intel's turnaround amid competition from AMD and efforts to enhance its foundry services. Analysts view this funding as crucial for Intel's product development and capital projects, despite concerns over margins. The average target price for Intel shares is $21.82, indicating a potential downside from the current price of $23.66.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: GuruFocus The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments