Intel Stock Pops After The Bell: What's Going On?
Portfolio Pulse from Adam Eckert
Intel Corp (NASDAQ: INTC) shares rose in after-hours trading following the announcement of an $11 billion joint venture with Apollo-managed funds for Intel's Fab 34 in Ireland. The deal allows Intel to unlock and redeploy investment while maintaining control over Fab 34.
June 04, 2024 | 8:44 pm
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Intel's shares increased after-hours following the announcement of an $11 billion joint venture with Apollo-managed funds for its Fab 34 facility. This move is part of Intel's strategy to create financial flexibility and accelerate its vision.
The joint venture allows Intel to unlock and redeploy a portion of its investment while maintaining control over Fab 34. This strategic move is likely to be viewed positively by investors, leading to a short-term increase in stock price.
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