Insiders Purchase Shares of Intel (INTC) and Opendoor (OPEN)
Intel CEO Lip-Bu Tan recently purchased $10 million worth of INTC shares at $95 per share, the same price as a recent secondary offering. The company reported strong Q2 results with 25% year-over-year revenue growth, rising margins to about 42%, and significant AI segment expansion (up 59%). Analysts are optimistic that Intel's advanced packaging technology could lead to orders from Google for TPU chips. However, concerns persist as server revenue growth is driven more by price increases than volume. Average selling prices rose 48% while unit volumes grew only about 9%. The Foundry segment also underperformed with a $2.1 billion operating loss and low external customer revenue of just $293 million. Opendoor Technologies CEO Kaz Nejatian recently bought shares following disappointing Q2 results, including wider-than-expected losses and negative adjusted EBITDA. Despite the poor performance, bulls remain hopeful for recovery due to reduced competition after Zillow exited iBuying in 2021 and potential housing market improvement.
Topics: insider buying Intel (INTC) Opendoor (OPEN) stock activity