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Stock impact report

Nvidia Buys Intel Corporation's (INTC) Shares Worth $5 Billion, Here's What You Need to Know [Yahoo! Finance]

Intel Corporation (INTC) 
Last intel corporation earnings: 4/23 04:07 pm Check Earnings Report
US:NASDAQ Investor Relations: intc.com/investor-relations/default.aspx
Company Research Source: Yahoo! Finance
The share price went up by around 2% after the announcement. According to the report, this move is based on Nvidia's previous announcement in September, where the company announced that it would buy Intel's share at $23.28 per share to support its finances to enhance production capacity. On December 29, Nvidia bought 214.7 million shares of Intel at the price that was established in the September agreement. As per Reuters, the antitrust agency of the United States approved this investment. That said, Intel Corporation (NASDAQ:INTC) has gained more than 61% over the past 6 months. However, Wall Street remains cautious with analysts' 12-month price target reflecting around 7% upside from the current levels. Recently, on December 19, William Stein from Truist Financial reiterated a Hold rating on the stock, with a $39 price target. Earlier on December 16, Vivek Arya from Bank of America Securities raised the firm's price target from $34 to $40, while maintaining a Sell rating. Anal Show less Read more
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