12 Best QQQ Stocks to Buy Right Now

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5. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 82

Intel Corporation (NASDAQ:INTC) is one of the best QQQ stocks to buy right now. On August 29, Intel announced that it amended its CHIPS Act funding agreement with the US Department of Commerce. The new deal allows Intel to receive ~$5.7 billion in cash sooner than initially scheduled by removing certain project milestones.

The amended agreement also maintains some restrictions, preventing Intel from using the funds for dividends and share buybacks, or expanding operations in certain countries. As part of the overall agreement, the US government made a total investment of $11.1 billion in Intel, which consists of $2.2 billion in previously received grants and an $8.9 billion investment.

This investment gives the US government a 9.9% equity stake in Intel, with the company issuing 274.6 million shares to the government and providing an option to purchase up to 240.5 million more shares under specific conditions. Intel has also placed 158.7 million shares in an escrow account to be released once the government makes more CHIPS funds available for the Secure Enclave program, which aims to expand advanced chip manufacturing.

Intel Corporation (NASDAQ:INTC) designs, develops, manufactures, markets, and sells computing and related products and services worldwide.

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