- Intel just reached its highest price since August 30, 2000.
- The stock has struggled to come back in the years since the tech bubble burst – but a massive security meltdown disclosed in January doesn’t seem to be slowing it down.
Shares of Intel reached an all-time high of $US51.33 Tuesday, their highest levels since the tech bubble of the early 2000s, despite a recently exposed security flaw that affects every major CPU maker in the world.
The stock’s previous high, adjusted for splits and dividends, was $US50.37, set at the closing bell on August 31, 2000 – almost 18 years ago.
For the fourth quarter of 2017, Intel reported adjusted earnings of $US1.08 per share versus Wall Street estimates of $US0.87 per share, and revenue of $US17.1 billion compared to analysts’ estimates of $US16.34 billion.
Intel did not detail the potential financial impacts of the flaws in its report, which seemed to comfort many Wall Street analysts.
“We feel better about the security flaws having a more limited impact on business after listening to management’s commentary on the earnings call,” Nomura analyst Romit Shah said in a note following earnings.
Wall Street thinks Intel can go even higher, too. Analysts polled by Bloomberg have a consensus target of $US52 for the stock – 4.3% above where shares were trading Tuesday. The company’s first quarter earnings report, its first since the flaws were made public, is set for March 26, 2018.
Andy Kiersz contributed to this report.