I. Conservative Recommendation
Intel Corporation (INTC)
Santa Clara, California-based Intel Corporation (INTC) is one of the world’s largest semiconductor chipmakers. This Silicon Valley icon is currently a recommendation in The Alpha Algorithm.
Intel jumped this past week on reports that Apple (AAPL) is looking to develop products using Intel chips amid its dispute with Qualcomm (QCOM). Any relationship with Apple would significantly boost sentiment surrounding the stock.
Technically, Intel (INTC) is in a strong uptrend and scores 100% on my short-, medium- and long-term technical indicators.
II. Aggressive Recommendation
Micron Technologies (MU)
Founded in 1978 and headquartered in Boise, Idaho, Micron Technology, Inc. (MU) is one of the leading worldwide providers of semiconductor memory solutions. It is currently a holding in The Alpha Algorithm.
Shares of Micron Technology soared 6.4% yesterday afternoon. The stock closed at a 160-year high after rival Samsung Electronics reported third-quarter results indicating continued strength in the DRAM and NAND chip markets. Shares of Micron have rallied 157% over the past 52 weeks.
From a technical standpoint, MU scores 100% on all technical indicators I follow for Momentum Trader Alert.
Nicholas A. Vardy