Intel stock traded at $26.85 as of 02:32 PM EDT on Friday.
Along with the rest of the markets, semiconductor stocks were expected to end the week on a high note before an important industry report, and New Street Research upgraded two major chip equipment companies.
On Friday, shares of Intel ( NASDAQ:INTC ) rose more than 3%, while those of rivals Nvidia and Advanced Micro Devices also increased. On October 27, following the close of business, Santa Clara, California-based Intel (INTC) is scheduled to release third-quarter financial results.
Intel Stock and Other Semiconductors Analyzed
Chief Executive Pat Gelsinger’s statement that was leaked says that Intel ( NASDAQ:INTC ), which is planning to lay off workers, will make 14 cents per share on $15.37 billion in sales. At midday, the following businesses saw gains of 3% or more: Micron Technology ( NASDAQ:MU ), Microchip Power Systems (MCHP), ON Semiconductor (ON), and Broadcom (AVGO).
NXP Semiconductor, Texas Instruments ( NASDAQ:TXN ), and Qualcomm ( NASDAQ:QCOM ) were also among the semiconductor companies that saw solid gains of at least 1.5%.
On Friday, New Street Research raised the ratings of Applied Materials ( NASDAQ:AMAT ) and ASML Holding ( NASDAQ:ASML ). The company said that the bad times in the larger semiconductor business should end soon and that compan...
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