Intel Stock l Intel’s new CEO, Lip-Bu Tan, will bring “immediate credibility” to the company. Wall Street analysts believe this will boost investor confidence and strengthen the company’s (NASDAQ: INTC) efforts to become a contract chipmaker. He made this statement on Thursday. The Intel stock jumped 2.24% to $24.23 in the after-hours session on Friday.
Investing in chip-making business
Shares of the company jumped 14.60% in pre-market trading, a day after the experienced 65-year-old was appointed to lead the company. Intel has lagged in the artificial intelligence-based semiconductor boom. The company is investing billions of dollars to expand its chip-making business.
Appoint Lip-Bu Tan as CEO
Intel’s shares saw a surge of 15% on Thursday. The company has decided to appoint Lip-Bu Tan as CEO, a move that has been welcomed by Wall Street. Lip-Bu Tan was previously a board member but stepped down in August due to differences over the company’s direction. For several years, the chipmaker has been underperforming in the market.
Intel Stock Target Price (NASDAQ: INTC) – What Wall Street analysts say
