Intel Stock Jumps After Trump Investment News
Intel shares increased after reports that Trump administration might invest in Ohio chip factory project.
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Intel's stock price increased a lot after people heard about a possible government investment. President Trump met with Intel CEO Lip-Bu Tan to talk about helping Intel's chip factory in Ohio. Before this meeting, Trump was not happy with Tan because his company invested money in Chinese businesses.
But their meeting went well and they talked openly. Some Wall Street experts think government money could help Intel finish projects that were too expensive before. Other experts worry that government control of a company is unusual and might make investors sell their stocks.
The Ohio factory has been delayed many times but could become the world's biggest chip-making place. Intel still faces many challenges from competitors like AMD and has been cutting jobs.
In the second quarter, Intel made $12.86 billion in sales, which was better than expected, but profits were lower than hoped.
Original Article
benzinga.comhttps://www.benzinga.com/markets/tech/25/08/47145718/intel-stock-trends-jumps-4-5-after-hours-as-analysts-digest-trump-administrations-potential-investme