Intel Stock (NASDAQ:INTC)
On Tuesday, the market for semiconductor stocks was led higher by Intel (NASDAQ:INTC), which saw its CEO have a meeting with a Chinese official to discuss the sector’s current situation. As a result, Intel stock surged.
The Chinese Ministry of Commerce stated that Minister Wang Wentao had a conversation with the CEO of Intel, Pat Gelsinger, concerning the safety of chip supply and the consistency of production.
According to a translated statement, China will continue to open up. The country “will provide new opportunities for the world and a broader market for multinational companies, including Intel.”
In a report published on Tuesday, investment company Citi maintained its bearish stance on shares of Intel, despite indications that the personal computer industry is “stabilizing.”
Analyst Christopher Danely said that month-over-month notebook shipments in March were up 41%, significantly beyond Citi’s forecasts, because new product releases and pull-in demand at the end of the quarter were responsible for the increase.
Intel stock increased by 0.5%, while its rivals AMD and Nvidia declined by 2.4% and 1.1%, respectively.
According to recent reports, the Japanese technology giant SoftBank (OTCPK:SFTBY) has apparently finished finishing preparations for its semiconductor design business Arm to list on the Nasdaq market in New Jersey York (NASDAQ:NDAQ).
The initial public offering (IPO), which may bring in as much as $8 billion, will most likely be managed by Goldman Sachs, JPMorgan, and Mizuho Securities; however, the participation of other banks is not out of the question.
During the middle of the trading day, shares of SoftBank (OTCPK:SFTBY) moved in a bullish direction.
During the middle of the trading day on Tuesday, many other semiconductor companies, including Texas Instruments, Qualcomm, and NXP Semiconductors, witnessed small increases in their share prices.
Other companies, including Broadcom, Analog Devices, and Micron Technology, reported fractional losses.
Bernstein, an investment company, gave Intel a higher rating earlier this month, citing the possibility of gains later in the year as the reason for their decision.
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Author Shariq Khan 
