Why Intel Stock Popped on Friday
Intel (NASDAQ: INTC) stock gained 2.5% through 10 a.m. ET Friday on positive comments about the computer hardware titan's progress building a computer software business.
As Reuters reports, Intel chief technology officer Greg Lavender painted a positive picture of Intel's software prospects, saying the company is on course for $1 billion in software sales through 2027.
Reuters described the figure as "cumulative," but that may be incorrect. What Lavender actually said was: "I have a goal of getting to $1 billion of software and developer cloud subscription revenue," with a focus on artificial intelligence (AI), performance, and cybersecurity software.
Source Fool.com
Intel Corp. Stock
€18.68
-3.170%
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