Intel stock up 4% as talks of planned Ohio factory gains impetus: here is where to buy it

After a drastic fall between January 14 and February 23 this year, the price of Intel stock is once again rising as talks of its planned mega factory in Ohio gathers momentum.

The Intel stock had been on the rise since December last year before taking a big hit towards the end of January, probably because of the geopolitical tensions in Eastern Europe that could easily drag the US into war with Russia.

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The current bullish performance of the stock is pegged on the company’s plans to build a mega semiconductor factory in Columbus, Ohio. Intel had earlier stated that it would invest up to $20 billion in the new factory as the race to have more semiconductor companies in the US heats up, but according to President Biden’s address to congress, the company plans to invest up to $100 billion.

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 current rise in the stock price could be impeded if congress does not pass the required legislation to help speed up investments in manufacturing across the US; something that shall allow Intel to go ahead with its planned Ohio mega factory.

Intel stock price prediction

If the market sentiments remain as they are, analysts expect the Intel stock price to get back above $55 before the end of March this year.