Intel Stock Hits New Highs, Overbought Territory

Intel Corporation shares soared nearly 3% this week after the company completed the acquisition of Mobileye NV. In addition, Microsoft Corporation announced that it will continue to use the Intel processor in its Windows 10 cellular PC concept despite using Qualcomm Incorporated to supply the LTE modem. Intel had warned earlier this year that ARM-based Windows 10 computers may violate some of its patents.

Last quarter, Intel reported revenue that jumped 9.1% to $14.76 billion – beating consensus estimates by $350 million – while earnings per share of $0.72 beat consensus estimates by four cents per share. The key drivers for the quarter were its notebook platform, which jumped 14% in volume and 6% in price, helping to offset weakness in its desktop platform, which experienced a 1% decline in price. (See also: Intel Has Invested Over $1B in AI Startups.)

Intel shares have moved significantly higher, but the stock is quickly approaching overbought territory. …read more

Read more here: Intel Stock Hits New Highs, Overbought Territory

Category: INTC, MSFT, QCOM

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