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Why are Intel Shares Rising Today?

Benzinga

44 Views • Dec 07, 2021

Description

Intel Corp ($INTC@US) is trading higher today after the company announced its intention to take Mobileye public in the U.S. in mid-2022 via an initial public offering of newly-issued stock. Mobileye is a driver-assistance and autonomous driving solution, and the company expects 40% revenue growth for 2021. Intel will remain the majority owner of Mobileye. The companies will become strategic partners, collaborating on projects as they pursue the growth of computing in the automotive sector. Intel designs and manufactures microprocessors for the global personal computer and data center markets. It has traded as high as $68.49 and as low as $45.24 over a 52-week period. Intel stock was up just over 8% at $55.15 this morning.

Keywords & Tags

#ipo #semiconductor #finance #inflation #business #tech #big tech #initial public offering #economic recovery #trading higher #self-driving cars #Intel #microprocessors #chip manufacturer #economic growth #economic outlook #Shares Are Rising #Intel Shares #Intel Corp #Mobileye #driver-assistance #autonomous driving solution #strategic partners #automotive sector #Intel designs #data center markets #Israeli subsidiary #Research Development

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