TECH - What's Going On With Intel Stock On Friday? | Benzinga
U.S. Chips Act beneficiary Intel Corp (NASDAQ:INTC) had a positive week till Thursday, while Nvidia Corp (NASDAQ:NVDA) and Advanced Micro Devices, Inc (NASDAQ:AMD) lost 5% and 15%, respectively.
On Wednesday, the broader semiconductor sector lost over $500 billion in stock market value as reports indicated that the U.S. is intensifying its advanced semiconductor embargo against China.
This was followed by Presidential candidate Donald Trump attacking global contract chipmaker Taiwan Semiconductor Manufacturing Co (NYSE:TSM). Investors leveraged the opportunity for profit booking.
Now, let us take a look at the positive pointers for Intel. Last week, reports indicated Intel CTO Greg Lavender targeting $1 billion in software and developer cloud subscription revenue, possibly reaching this before 2027.
In 2021, Intel generated over $100 million in software revenue after CEO Pat Gelsinger recruited Lavender from VMware.
Lavender ...