Intel stock rallying amid plans to build a new factory in Ohio: here is where to buy it

Intel stock has been on the rise since December last year.  It is among the few stocks that have sustained positive growth despite the recent announcement by the US Fed on plans to start raising interest rates in the coming months.

The current performance of the stock is pegged on the company’s performance and plans to build a mega semiconductor factory in Columbus, Ohio. Intel intends to invest up to $20 billion in the new factory as the race to have more semiconductor companies in the US heats up.

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To help stock investors interested in investing in Intel stock, Invezz has created a brief article on what it is and where to buy it.

To find out more, please continue reading.

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What is Intel stock?

Intel stock is the stock of Intel Corporation and it trades on the NASDAQ Stock Exchange under the symbol NASDAQ: INTC.

Intel Corporation is an American multinational technology company whose headquarters are in Santa Clara, California. It is the largest microprocessor chip manufacturer by revenue.

Intel supplies HP, Lenovo, and Dell, among other computer system manufacturers with microprocessors. Besides microprocessors, it also produces flash memory, integrated circuits, motherboard chipsets, graphics chips, embedded processors, and network interface controllers among other computing devices.

Should I buy INTC stock today?

If you want to invest in a tech stock that has shown great prospects of growth, then the Intel stock can be a good choice.

Nevertheless, the stock could be heading for the oversold region since it has been on the rise since the beginning of December 2021 and most traders have taken note of the bull trend.

Intel stock price prediction

If the market sentiments remain as they are, analysts expect the Intel stock price to rise towards $60 ahead of the listing of its self-driving car unit Mobileye; a project that could see the stock skyrocket further.

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