Intel Corporation (INTC) : Traders are bullish on Intel Corporation (INTC) as it has outperformed the S&P 500 by a wide margin of 1.29% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.97%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.94% in the last 1 week, and is up 1.67% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Intel Corporation is up 17.77% in the last 3-month period. Year-to-Date the stock performance stands at 4.87%. The stock has recorded a 20-day Moving Average of 1.57% and the 50-Day Moving Average is 5%.
Intel Corporation (NASDAQ:INTC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $34.84 and $34.74 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $35.27. The buying momentum continued till the end and the stock did not give up its gains. It closed at $35.24, notching a gain of 0.77% for the day. The total traded volume was 16,417,640 . The stock had closed at $34.97 on the previous day.
Also, Equity analysts at the Brokerage firm Nomura maintains its rating on Intel Corporation (NASDAQ:INTC). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Nomura raises the price target from $35 per share to $38 per share. The rating by the firm was issued on August 2, 2016.
Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company sells these platforms to original equipment manufacturers (OEMs), original design manufacturers (ODMs), and industrial and communications equipment manufacturers in the computing and communications industries. The Companys platforms are used to deliver a range of computing experiences in notebooks, 2 in 1 systems, desktops, servers, tablets, smartphones, and the Internet of Things. It also develops and sells software and services focused on security and technology integration. The Companys operating segments include the PC Client Group (PCCG), the Data Center Group (DCG), the Internet of Things Group (IOTG), the Mobile and Communications Group (MCG), the software and services (SSG) and all other. SSG segment includes McAfee and software and services group. All Other segment includes Non-Volatile Memory Solutions Group, Netbook Group and New Devices Group.