Intel will look to spin-off Mobileye for big money. Here's why.
Shares of semiconductor specialist Nvidia (NASDAQ: NVDA) opened lower on Wednesday, and were still down 2% as of 10 a.m. ET. As MarketWatch pointed out this morning, Tuesday saw a rally across stock markets -- but few sectors benefited as much as semiconductors, which "led the way, with gains far outpacing the broader market." Indeed, the PHLX Semiconductor Index (NASDAQ: SOXX) posted a 5% gain yesterday, or more than triple the 1.4% gain on the Dow Jones Industrial Average.
Semiconductor companies are seeing strong demand overall as a result of the increased digitization of our lives, but Intel is a bit of a laggard given that it has fallen behind on innovation.