Intel’s $100 billion April rally makes it market’s hottest stock

Intel Corp. has quickly become one of the hottest stocks in the S&P 500 Index thanks to a nine-day surge that has added more than $100 billion in markvalue.

A rash of good news over the last two weeks has reinvigorated investor enthusiasm that the chipmaker may be able to pull off a dramatic turnaround after years of underperforming amid fears that it had lost its edge in semiconductor manufacturing. Shares just posted their best week since January 2020 and have soared 53% in nine sessions, including Monday. This is the most on record for any similar stretch of trading – quite the feat for a company that went public in 1971.