Stocks to Watch Today: Intel, CrowdStrike, and Amazon - Tokenist
Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.
In a volatile market, three tech giants are making waves with significant announcements and stock movements. Intel Corporation (NASDAQ: INTC), Amazon.com Inc. (NASDAQ: AMZN), and CrowdStrike Holdings Inc. (NASDAQ: CRWD) are capturing investor attention with strategic shifts, AI advancements, and earnings updates.
Intel’s stock surged 8.53% to $21.85 on reports that the company is exploring a potential split of its chip design and manufacturing operations. This strategic move comes as Intel grapples with mounting losses and intensifying competition in the AI chip market. The company reported a net loss of $1.61 billion in Q2 2024 and plans to lay off about 15,000 employees to reduce costs by $10 billion annually by 2025. Despite securing nearly $20 billion in U.S. grants and loans to boost chip production, Intel’s stock remains down 55.94% year-to-date, significantly underperforming the S&P 500.
Join our Telegram group and never miss a breaking story.
Amazon’s stock climbed 1.70% to $175.04 following news that the e-commerce giant plans to use Anthropic’s Claude AI models to power a revamped version of Alexa. The new “Remarkable” Alexa, set for release in October, will offer enhanced conversational abilities and more complex task execution for a monthly fee of $5 to $10. This move represents a significant departure from Amazon’s typical preference for in-house technology development. With an estimated 100 million active Alexa users, analysts project potential annual revenues of $600 million if 10% opt for the paid version. Amazon’s stock has shown a year-to-date return of 15.21% and a five-year return of 95.98%.
CrowdStrike Holdings Inc. (CRWD) Gains as CEO Addresses Delta Situation
CrowdStrike’s stock rose 0.75% to $273.70 as CEO George Kurtz addressed the recent IT outage that affected businesses worldwide, including Delta Airlines (NYSE: DAL). Kurtz acknowledged the incident’s impact and expressed willingness to find a resolution with affected clients. Despite the challenges, CrowdStrike beat Wall Street’s expectations for earnings and revenue, though it lowered its full-year guidance. The company’s stock has demonstrated strong performance with a year-to-date return of 7.23% and an impressive five-year return of 226.64%. Analysts maintain a positive outlook with a one-year target estimate of $324.80.
Disclaimer: The author does not hold or have a position in any securities discussed in the article. Stock prices quoted at the time of writing (12:16 PM EDT).