Intel’s Resurrection Gains Traction Following Q3 Earnings: How to Play INTC Stock Now

Intel (INTC), which was considered dead money until a few months ago, has seen a resurrection of sorts. INTC stock, which fell over 60% last year to record its worst ever year, has more than doubled this year. No one really expected such a bounce back from the once-iconic chipmaker, but a flurry of investment deals from the U.S. government, Softbank (SFTBY), and Nvidia (NVDA) helped buoy sentiment. The U.S. government, incidentally, is now Intel’s biggest shareholder after taking a nearly 10% stake in the company.

Meanwhile, while all the cash that Intel bagged from the recent investment deals helped bolster its balance sheet, there was one missing piece in the resurrection – the company’s financial performance. But the Lip-Bu Tan-led company came up with a strong set of numbers in Q3, which has sent its stock soaring today, Oct. 24.