Intel set to open up more than 6 percent after crushing earnings

FAN Editor

Intel is set to open up more than 6 percent Friday after crushing first quarter earnings estimates.

The company beat on both the top and bottom lines, despite admitting they “bit off a little too much” amid 10-nanometer chip delays.

Shares were trading above $56 in premarket, after closing Thursday at $53.05.

Intel announced Thursday it had hired Tesla’s departing head of autopilot, Jim Keller. He will join Intel as senior vice president and lead the company’s silicon engineering.

As of Thursday’s close, Intel was up nearly 15 percent on the year and more than 40 percent in the 12-month period.

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