Analyst revisits Intel stock forecast amid surprise plans for a key spinoff
Intel, which ousted its CEO in December, is planning a major shake-up to win back investors.
Intel shares powered higher in Wednesday trading, extending a modest gain for the year, after the release of a bullish research report tied to plans for a spinoff of the chipmaker's money-losing foundry business.
Intel (INTC) , which ousted Pat Gelsinger as chief executive late last year amid the group's flagging turnaround, posted a mixed set of December-quarter earnings last month but vowed to focus on new AI-focused products for its data-center division.