Intel Corp. (NYSE: INTC) inched up 1/2 to 70 9/16 on Friday following a Merrill Lynch advisory for more aggressive investment in semiconductors. The company was among the day’s 10 most active stocks.
Merrill Lynch issued the advice when it said it believed the mid-cycle correction had ended for the semiconductor sector. The recommendation helped boost the overall chip market, with the Philadelphia Stock Exchange’s Semiconductor Index rising 2.14 percent on Friday.
Intel is the world’s largest manufacturer of computer chips. It also makes other products for computers, networking and communications.