Is Intel Stock a Buy Right Now?
Intel (NASDAQ: INTC) has been one of the market’s biggest comeback stories this year. The stock is up about 150% year to date, as of Oct. 21, as the chipmaker delivered its strongest revenue growth in more than 15 years.
However, shares have cooled off, falling about 36% from their June high. Here’s why that pullback looks like a buying opportunity.
Intel’s revenue grew 25% year over year to about $16.1 billion in the quarter ended June 27. That was $1.8 billion above the midpoint of management’s guidance, a sign of solid execution and strong demand for processors from the data center market. Revenue tied to artificial intelligence (AI) grew by more than 70% year over year and accounted for about 70% of revenue.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.