RESOLVING THE LEDGER
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An investment of $1,000 in shares of Intel (NASDAQ: INTC) a year ago is now worth just under $4,500, as of this writing. The semiconductor specialist's multibagger returns over the past year have been driven by a remarkable turnaround in its fortunes.
When Intel released its second-quarter results on July 23, it became clear that it is becoming a more influential player in the booming artificial intelligence (AI) chip market. The company's revenue and earnings crushed Wall Street's expectations, and its outlook was well ahead of what analysts were looking for.
However, Intel stock fell nearly 8% the following day, driven by a broader sell-off in the semiconductor sector. Savvy investors, however, can consider this pullback as a buying opportunity. In fact, it won't be surprising to see an investment of $1,000 in Intel jump substantially over the next three years. Let's see why that may be the case.
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