Intel shares are on track to post their best month since 2001 after the company said its next generation of data center chips would be ready sooner than expected.
Shares rose 7.6% on Wednesday and were trading an additional 2.1% higher on Thursday, at $32.18. It rose more than 20% in March, which would make it the best month for Intel (stock ticker: INTC) since it posted a 33% gain in November 2001.
Intel…
Intel stock is on the right track their best month Since 2001 after the company said the next generation of data center chips would be ready sooner than expected.
Shares rose 7.6% on Wednesday and were trading an additional 2.1% higher on Thursday, at $32.18. It rose more than 20% in March, which would make it the best month for Intel (stock ticker: INTC) since it posted a 33% gain in November 2001.
Intel executives delivered an investor presentation on Wednesday in which they updated chip production schedules after the company lost market share to Advanced Micro Devices (AMD) in recent years. Notably, Intel said the chip, codenamed Clearwater Forest, was targeted for release in 2025. It also provided production schedules for other semiconductors.
AMD shares rose 2.6%.
However, not all analysts were convinced it was a fundamental change in expectations. Shares remain down more than 35% from a year ago.
“We recognize Intel’s efforts to regain process leadership and build out its software ecosystem, but we see management in proving mode as the multi-year turnaround effort continues,” said Oppenheimer analysts led by Rick Schaefer, who gave the stock a performance rating. “We are still on the sidelines.”
KeyBanc’s John Vinh had a similar view. “We await further proof of its ability to close the performance gap and regain market share versus AMD,” he wrote in a note.
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