Intel (INTC-NASDAQ) isn’t just at a 52-week high, its at its highs back to January/February 2006 back when the Advanced Micro (AMD-NYSE) war and scare was really going against it. We now know what this did to AMD financially as Intel’s closest competitor couldn’t really take much more market share right now if it wanted to. You just have to wonder if Otellini or Bryant from Intel have called Goldman Sachs to thank them for the stock upgrade this morning.
Shares of INTC are up 3.7% at $24.10 mid-day on almost 100 million shares. This actually looks like it is going to be the best performer in the DJIA this week with more than 10% gain since last Friday’s close. So much for selling tech all the way up until August. When Jim Cramer changed the "Four Horsemen of Technology" he noted that Intel had lost its way, and it was at $21.49 on that day (June 6) and shares are up 12% since then. Sometimes you just can’t kick a giant forever just because it went down. Shares are now up more than $7.00 or more than 41% from its 52-week lows.
Shares of AMD are down 1.1% at $13.62, and on lower than average volume.
Jon C. Ogg
June 15, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
Top Gaining Stocks
Top Losing Stocks