Why These 5 Stocks Were in the Spotlight This Week

In this article we take a look at five stocks that were in the spotlight this week. If you want to read our detailed analysis of these stocks, go to read Why These 10 Stocks Were in the Spotlight This Week.

#5 Intel Corporation (NASDAQ:INTC) is in the spotlight after the company announced it broke ground on two leading edge chip factories in Arizona. The United States is trying to increase its semiconductor manufacturing ability domestically and Intel Corporation (NASDAQ:INTC) is also trying to catch up with Taiwan Semiconductor in some aspects. Intel Corporation (NASDAQ:INTC)’s increased capital spending could potentially help the U.S. and the company in both objectives. Ken Fisher‘s Fisher Asset Management was long more than 31.4 million shares of Intel Corporation (NASDAQ:INTC) at the end of June.

#4 Tesla, Inc. (NASDAQ:TSLA) is trending after Reuters reported that its sources say the Shanghai factory of Tesla is expected to produce 300,000 Tesla, Inc. (NASDAQ:TSLA) cars in the first nine months of the year despite the headwind that has been the global semiconductor shortage. Earlier in the week, Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk said that he expected the chip shortage to be a short term problem given the potential increased capacity next year. Billionaire Elon Musk is a big holder in Tesla, Inc. (NASDAQ:TSLA).

#3 General Motors Company (NYSE:GM) trended this week due to Elon Musk’s comments that the chip shortage could be a short term problem. General Motors Company (NYSE:GM) also trended due to the news that it will invest $300 million in Momenta. Of the around 873 elite funds in our database, 86 were long General Motors Company (NYSE:GM) at the end of Q2.

#2 Ford Motor Company (NYSE:F) trended this week due to Elon Musk’s chip shortage comments given they are in the same sector. If there are not enough chips, Ford Motor Company (NYSE:F) may not be able to produce enough cars to meet market estimates. The number of elite funds in our database that were long Ford Motor Company (NYSE:F) rose to 55 in Q2, 2021 from 49 in Q1, 2021.

#1 Toyota Motor Corporation (NYSE:TM) trended this week due to Elon Musk’s chip shortage comments. Given they are in the same sector, Toyota Motor Corporation (NYSE:TM) is affected by the same factors as others. Of the around 873 elite funds in our database, 12 were long Toyota Motor Corporation (NYSE:TM) at the end of Q2.

Disclosure: None.