Why Intel Stock Is Trading Higher Today
Portfolio Pulse from Ryan Gustafson
Intel Corporation (NASDAQ:INTC) is selling its 10% stake in the IMS Nanofabrication business to TSMC for $4.3 billion, expected to close in Q4 2023. This follows Intel's June agreement to sell a 20% stake in IMS to Bain Capital. Intel will retain majority ownership of IMS, operating it as a standalone subsidiary. The news has led to a 1.53% increase in Intel's stock price.
September 12, 2023 | 7:12 pm
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Intel's decision to sell a 10% stake in IMS Nanofabrication to TSMC has led to a 1.53% increase in its stock price.
The sale of a 10% stake in IMS Nanofabrication to TSMC is a significant move for Intel, indicating a strategic shift in its business model. This has been positively received by the market, leading to a 1.53% increase in its stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100