INTC - 3 Reasons to Buy Intel Stock Like There's No Tomorrow in 2024
2024-07-10 08:12:00 ET
Artificial intelligence (AI) is by no means a new concept, as the technology was in some form of development for at least the last four decades. However, the debut of OpenAI's ChatGPT in 2022 brought renewed interest to the industry, triggering a bull run for many tech stocks. As a result, the Nasdaq Composite has spiked 33% over the last 12 months.
Intel (NASDAQ: INTC) was initially left out of the AI rally, as investors were more concerned with recent headwinds. However, it appears Wall Street is beginning to take notice of the company's expanding role in the budding market.
Intel has released a range of new AI chips since the start of last year and restructured its business to focus on expanding its manufacturing capacity. So despite being down 36% year to date, the company's shares have trickled up about 6% since the end of May.
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3 Reasons to Buy Intel Stock Like There's No Tomorrow in 2024