Why Intel, Alphabet, and Mobileye Stocks All Popped Today [Yahoo! Finance]
Intel Corporation (INTC)
Last intel corporation earnings: 4/23 04:07 pm
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Source: Yahoo! Finance
Thursday is looking like a great day to own stocks, and tech stocks in particular -- especially tech stocks tied to autonomous cars. If you own shares of Mobileye (NASDAQ: MBLY) or Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) today, you have Intel (NASDAQ: INTC) to thank for it. Oh, sure. A lot of stocks gaining today are gaining on the back of a 50- basis-point interest rate cut by the Federal Reserve yesterday. That's one big catalyst. But a second catalyst, and one specific to the self-driving cars industry, is the fact that Intel announced today that it has no plans to sell off its majority stake in Mobileye. That news is behind the surprising strength in shares of Intel stock (up 3% through 11:10 a.m. ET), and in Alphabet (up 1.8%), and in Mobileye most of all -- up 15.3%! What Intel said about Mobileye Earlier this month, both Intel and Mobileye got hit by rumors that the semiconductor giant was planning to sell off most of its 88% stake in Mobileye , which makes systems for
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