Intel (NASDAQ) shares surged on Wednesday, hitting $37.16 after reports of potential U.S. trade restrictions on China’s access to advanced chips. The Biden administration is considering stricter curbs if companies like Tokyo Electron Ltd. and ASML continue providing China with advanced semiconductor technology.
Former President Donald Trump also boosted Intel shares with comments on Taiwan, suggesting the country should pay the U.S. for defence, linking it to Taiwan’s semiconductor dominance.
Despite declines in other semiconductor stocks, Intel emerged as a beneficiary, rising over 4% to $35.86 per share. Analysts at Mizuho noted potential gains for U.S. domestic semiconductor stocks, highlighting Intel and Texas Instruments (NASDAQ) as likely winners if further restrictions are imposed on China.
