Why Intel Stock Drifted Higher Today

Tuesday wasn't one of the more memorable days on the stock exchange for U.S. chip titan Intel (NASDAQ: INTC). There was little fresh news affecting the company directly, still it managed to drift 2% higher in price across the trading session. Lingering positive sentiment related to the recently announced Nvidia buy-in, in addition to recent analyst moves, played a role in this. At any rate Intel beat the S&P 500 index, which fell by 0.6% Tuesday.To a degree, investors are still reacting to the blockbuster news from the end of last week that Nvidia will invest a meaty $5 billion in Intel's equity, and the two chip giants will collaborate on certain projects. More recently, on Monday a European bank upgraded its recommendation on the stock. Continue reading