Intel Corporation (NASDAQ: INTC) shareholders had to bear painful losses throughout this year as the company struggled to make a breakthrough in its stumbling foundry business. However, Intel's foundry spin-off move, a deal with Amazon.com, Inc. (NASDAQ: AMZN), and a probable QUALCOMM Incorporated takeover boosted its share prices last week.
Does this mean the INTC stock has room to run soon, or is it just a temporary uptick? Is it time to buy the INTC stock, or is it prudent to wait for an opportune moment? Let's see –
Intel Stock Bounces Back
It's been a tough year for Intel, with its shares down 57%, in sharp contrast to the Semiconductor - General industry's gain of 93.3%. Intel has been dealing with costly technological advancements that have led to various cash concerns and compelled the company to suspend dividend payments and cut jobs.
Image Source: Zacks Investment Research
Intel's failure to take advantage of the booming artificial intelligence revolution has also taken a toll on the stock. However, a trifecta of events helped the Intel stock to rebound last week, with the company's shares soaring more than 11%, its best weekly performance since November.
What Led to the Rise in ...
