Intel is on its best run since the ’87 crash
The stock is approaching its 200-day moving average.
Intel is continuing to pop. On Thursday, it was one of the top-performing stocks in the S&P 500, and at last glance the once dominant American chipmaker’s stock was up more than 27% over the last four days.
That’s Intel’s best four-day run since the aftermath of the 1987 stock market crash, after the stock has been repeatedly plumbing close to its lowest levels in a decade. That romp is close to pushing the stock price over its 200-day moving average, typically viewed as a sign that some significant momentum is in the offing.
Clearly, the market sniffs something in the wind. The company reported earnings at the end of January but that didn’t do much to catalyze the stock. Analysts have recently reported rumblings that the US government could be looking to orchestrate some sort of partnership between Intel and Taiwanese chip giant TSMC for an AI-related semiconductor undertaking. Perhaps.
But given how important the market seems to view politically connected stocks recently — we’ve repeatedly noted the outperformance of companies with ownership links to right-wing oligarchs with business and financial linkages to the Trump campaign and administration — it’s clear the market sees a government intervention as a more than welcome development for Intel after the atrocious run the stock has had over the past year, down nearly 60% before its recent run-up.
