On this episode of Stock Movers:
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Tim Stenovec and Emily Graffeo.
- Intel (INTC) shares were higher today continuing a month-long rally. Intel bulls are finally being rewarded for their patience. But the stock’s sudden rebound comes with a worrying side-effect: a valuation so high its most recent precedent is from the dot-com era more than two decades ago.
Shares of the struggling chipmaker have rallied 28% this month, adding about $24 billion in market value, on reports that the US government is in talks for a potential equity stake, as well as plans for a $2 billion investment from Japan’s SoftBank Group Corp. The jump has Intel trading at 53 times profits projected over the next 12 months, the highest since early 2002, according to data compiled by Bloomberg.
- Palo Alto (PANW) jumped on a stronger-than-expected annual forecast, as the company seeks to provide customers with a bundle of AI-enabled cybersecurity products to fend off attacks. Fiscal-year sales will be about $10.5 billion, the company said Monday in a statement. Analysts, on average, estimated $10.4 billion, according to data compiled by Bloomberg.
- Nvidia (NVDA) shares dropped nearly 3.5% in a trading day that saw tech stocks slide across the board. The Nasdaq 100 closed down 1.4% - its second-worst drop since April’s tariff shock.
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