Intel stock jumps 51% in 8-session rally after $14.2B buyback
Intel's shares jumped 51% over eight consecutive trading sessions, adding more than $100 billion to its market capitalisation, the biggest winning streak the company has ever seen.
This buzz started after Intel made some bold moves, like buying back half of its Ireland plant for $14.2 billion and teaming up with Elon Musk's Terafab project to boost semiconductor development.
Investors are watching closely, hoping these steps mean Intel is making a real comeback.
Analysts cautious despite stock rally
Even with all the excitement, Intel's stock is still nearly 9% below its 2020 high.
The US government's stake in the company has grown to $27 billion, but most analysts are staying cautious and aren't rushing to recommend buying in right now, since the price has shot up so quickly.