Intel Stock Higher After Securing $8.5 Billion in Funding

Analysts are still skeptical of INTC

Digital Content Manager
Mar 20, 2024 at 10:14 AM
facebook X logo linkedin

Intel Corp (NASDAQ:INTC) was last seen up 1% at $42.45, following news it will receive $8.5 billion in government funding for high-end chip manufacturing, in addition to $11 billion in loans. The company plans to spend $100 billion in Arizona, New Mexico, Ohio, and Oregon to build and expand factories, and expects to get another $25 billion in tax breaks.

The shares have struggled with overhead pressure at the $47 region since a late-January pullback, though long-term support from the 140-day moving average kept losses in check. INTC is up 44.2% in the last 12 months, but shed 16.3% so far this year.

Analysts remain skeptical, with 27 of the 33 in coverage carrying a tepid "hold" or worse rating. Meanwhile, at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 50-day call/put volume ratio of 3.52 sits higher than 94% of annual readings. This indicates calls have been more popular than usual.

Drilling down to today's options activity, 61,000 calls have crossed the tape -- double the intraday average volume -- compared to 17,000 puts. Most popular is the weekly 3/22 43-strike call, followed by the 42.50-strike call, with new positions currently being opened at the latter.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI