Intel shares rose on Friday as Wall Street analysts applauded its third-quarter earnings.
Intel shares were gaining early on Friday. Analysts were upbeat about the chip maker’s results but expressed cautious confidence in both its manufacturing and artificial-intelligence strategies.
For bulls on the stock, Intel led by CEO Pat Gelsinger provided further signs that its chip-manufacturing services are attracting clients and investment. The costly expansion of the Foundry business has taken its toll on margins, but a gross margin of 45.8% for the quarter beat expectations of around 43%.
“Intel looks to be having success with its new products recently released while it continues to bleed market share to AMD in the mainstream volume server space,” Benchmark Research analyst Cody Acree wrote.
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