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Nvidia and Intel are sheltered from China's retaliatory tariffs on semiconductor chips, according to Cowen analyst Matthew Ramsay.
Wall Street analysts are saying Intel's crazy week of big news is mostly positive. Intel CEO Brian Krzanich resigned after violating company policy, and the company raised its second-quarter earnings guidance.
The company also raised its earnings per share guidance in the same press release, saying second quarter adjusted EPS will be "approximately $0.99" when it reports on July 26, higher than previously forecast $0.85.
Intel hits a record high after Trump shuts down the Qualcomm-Broadcom merger that would have created a super competitor
President Trump on Monday blocked chipmaker Broadcom's propsed $117 billioin buyout of Qualcomm citing national security.
The stock's previous high, adjusted for splits and dividends, was $50.37, set at the closing bell on August 31, 2000
Shares of Intel rose on Friday despite reports that the US government was not alerted earlier to chip flaws that could have impacted national security.
It was the company's first earnings report since the Spectre and Meltdown flaws were reported.
Analysts will be watching for more clarity from the company about how it is dealing with the Spectre and Meltdown security flaws.
Young investors are unfazed by recent security flaws.
As the company prepares to report earnings, one analyst thinks Intel will be fine in the near term.