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Intel stock rallies further as CEO switch fuels hope of ‘light at the end of the tunnel’

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Intel Corp. won praise for replacing its chief executive as multiple analysts upgraded the chip giant’s stock.

Shares of Intel
INTC,
+4.22%

were up 5.1% in Thursday morning trading, building on gains of 7.0% from Wednesday’s session after the company announced that VMware Inc.
VMW,
+2.00%

Chief Executive Pat Gelsinger would be taking over Intel’s top post.

Intel has suffered in recent years from a series of missteps that caused the company to lose its leadership in process technology. Even as analysts seemed to agree that there is no fast answer to the company’s current challenges, they’re…



Source marketwatch.com

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