Intel Corp. (NASDAQ:INTC) stock is surging on Thursday, lifted primarily by a broader semiconductor sector rally that followed strong financial results from NVIDIA Corporation (NASDAQ:NVDA).
The Nasdaq is up 1.20% while the S&P 500 has gained 0.55%.
Semiconductor Rally Sparked by Nvidia Beat
Nvidia reported its second-quarter financial results Wednesday after the market close. The semiconductor designer posted revenue of $96.22 billion, representing a 106% year-over-year increase.
This revenue total surpassed the Street consensus estimate of $92.18 billion. Adjusted EPS of $2.22 also beat the $2.10 estimate.
