Upbeat Intel Results Powering Up Semiconductor Sector
Intel Corp (NASDAQ:INTC) stock is powering the Nasdaq Composite (IXIC) today, up 21% to trade at $80.77 at last glance, after nabbing a record high of $85.22 right out of the gate. The chipmaker announced first-quarter earnings of 29 cents per share on $13.58 billion in revenue, both of which exceeded estimates. Intel also hiked its second-quarter guidance, prompting 10 price-target hikes and an upgrade from Evercore to "outperform" from "in-line." The chip stock is overdue for upgrades, especially after th ...