Intel moved up 7.6% on significant volume and breaking out of its 6 month long range. Is it getting ready to move?
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The big question is why? CNBC was saying Micron (MU) did well after announcing layoffs and guidance that was not as bad as feared.
Was a good day for tech stocks. Intel might as well tag along.
Will they get their act together? When?
First of all I am not sure MU results were good either. Who knows, it could be a reaction to the higher layoff numbers, they have previously talked about 10% layoff and now it moves to 15%. Not sure you can read MU’s results into INTC. IINTC is getting accumulated. Why? Don’t know. Whether it is sustainable, or Intel fundamentally turned around, etc, I have no idea. It is a nice technical breakout from the range. That’s all. I might trade this.
Sometimes, when things fundamentally hit the bottom, the turn around on the stock price, and the volume means market is ahead of the potential fundamental turnaround.
Again, no one should listen to my views on INTC, I am an idiot who bought at mid30’s in 2017 and rode all the way to 60’s and back. I have collected dividend and traded the stock, options, but basically I missed the peak and spectacularly failed to accept AMD is a better stock. My friend (who works for AMD) begged me to buy AMD, I didn’t. So, I don’t trust my own views in this name. 
caromero posted an article that AMD is coming out with Zen 5 on another thread fyi. This can’t be good news for INTC if they are in catch up mode. Also AMD has been hot recently moving the last week or so up to the low $100 from the high $70 to low $80 range and maybe poised to build a base there IMHO.
Here’s another article from the fool writers…doc