blockbuster result lift share


Intel's Blockbuster Results Lift Shares to Dotcom Peak, Fire Up Sector

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Shares of AMD, which will report earnings next week, rose 1% to a record high. Nvidia shares were also up 1%. Intel's stock was up 8.6% at $68.75, a level it has not seen since the peak of the dotcom boom in 2000, propelling the broader Nasdaq and the Philadelphia SE Semiconductor Index to record highs. Other major chipmakers such as Taiwan Semiconductor Manufacturing Co Ltd (TSMC) and Texas Instruments have also given upbeat forecasts this month, cementing hopes of a rebound in the market that fell nearly 12% in 2019, according to research firm Gartner. However, Intel has struggled with delays in its 10nm chip technology, losing its lead to rival TSMC in the race to supply to the "new data economy", which includes 5G, autonomous vehicles and artificial intelligence.