Intel stock price closed at $42

Intel stock price closed at $42.92 on moderate volume. Chartists note the formation of an ascending triangle which could resolve higher if fundamental data confirms. Positive sentiment in global chip markets is an underlying driver. Ahead, guidance by management for revenue in Q3 is in a range of $12.6 billion to $13.6 billion, GAAP EPS of $(0.24), and non-GAAP EPS of breakeven. Though these results incur the cost of transformation, they also indicate that Intel is approaching the inflection point of its turn strategy. The surge pushed the stock past $37, hiking the value of the U.S. government's 10% stake in Intel to roughly $16 billion. The intel stock price saw mild profit-taking after touching $43.25, yet remained well above its monthly low. Earnings season trends indicate consensus beats in the chip sector, suggesting Intel could follow suit if operational efficiency meets targets.