Advanced Micro Devices (AMD) and Intel (INTC) stocks were on the rise Wednesday alongside a report of a major deal between the two chipmakers. TechSpot reported that AMD has agreed to acquire Intel in an all-stock transaction. Here’s the thing: the article is a prank made to trick readers.
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In case readers haven’t checked their calendars yet, today is April Fool’s Day. That means any extreme reports, such as AMD acquiring Intel, need to be taken with an extra heaping of salt today. While April Fool’s Day can be frustrating, traders need to remember that it’s all in good fun. There’s no malice behind these articles, and the one from TechSpot is an enjoyable read for any investors who closely follow AMD or Intel.
AMD & Intel Stock Movement Today
Even if the news about a deal between AMD and Intel is fake, that doesn’t mean today’s stock movements are. Both AMD and INTC have rallied today, and it’s possible the April Fool’s Day prank is behind some of these gains.
Of course, AMD and Intel stocks could also be up on legitimate news. For example, positive analyst coverage from Wells Fargo could be acting as a catalyst for AMD stock today. Intel also announced plans to buy back its 49% equity interest in a joint venture with Apollo Global Management (APO).
AMD vs. INTC: Which Semiconductor Stock Do Analysts Prefer?
Turning to the TipRanks’ stock comparison tool, traders can see which of these chipmakers analysts favor. AMD has the better analysts’ consensus rating at Moderate Buy, while Intel has a Hold rating. The upside potential for AMD stock is also higher at 35.97%, compared to a possible 2.42% upside for INTC.
