Keep an eye on Intel (INTC).
With strong earnings growth, CEO Pat Gelsinger just bought another 6,775 INTC shares for about $250,000 between October 31 and November 1. While technically stretched, we’re waiting to see if the INTC stock can break above prior resistance around $40 a share. If it can, it could potentially retest $42.25, where it was back in early 2022.
A good number of analysts recently raised their price targets on INTC, too. Morgan Stanley now has a $39 target. Bernstein has a $36 target. Mizuho has a $37 target. JP Morgan as a $37 price target. And HSBC upgraded INTC to a hold from a reduce rating.