Intel Corp. shares closed higher Thursday to log their longest winning streak in nearly three years, as the chip maker’s stock led gainers on the Dow Jones Industrial Average.
Intel shares
INTC,
closed up 3.2% near highs of the day at $38.18, their highest close since July 28, 2022, when the stock closed at $39.71, according to Dow Jones data.
Meanwhile, Intel shares led gainers on the Dow
DJIA,
which closed up 0.2%, versus a 0.4% decline on the S&P 500
SPX
and a 0.9% slide on the tech-heavy Nasdaq Composite
COMP.
Intel’s stock has gained in each of the past nine sessions, marking its longest streak of positive sessions since Dec. 4, 2020, according to Dow Jones data. Over the past nine sessions, Intel’s stock has gained 17.2%, according to FactSet.
Not counting consecutive days of gains, Thursday’s close marks the best nine-session gain for the stock since June 16, when shares rose 21.8%, according to Dow Jones. Soon after that, Intel earned the unenviable distinction of being the worst-performing stock on the Dow two days running.
On Wednesday, David Zinsner, Intel’s chief financial officer, said the company is experiencing a data-center sales tailwind from enthusiasm around artificial intelligence but will probably not record AI sales in the nine-figure range until 2024.
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