KEY POINTS
- Intel stock jumped about 9% today, standing out as the market fell, on a report it plans another CPU price hike
- The roughly 10% price hike, expected in October, is aimed at boosting profit margins
- A Wall Street upgrade and a manufacturing milestone added to the optimism
- A striking side effect: the US government’s 9.9% Intel stake is now up around US$36 billion on paper
Intel (NASDAQ:INTC) stock surged today, closing up about 9%, a standout as stocks broadly fell. Intel rallied after a report that the chipmaker plans to raise its PC processor prices again, a move investors see as a boost to profits. The jump also added billions to a very unusual shareholder: the US government. In short, a pricing report reignited excitement…
