"The world's insatiable appetite for data is driving demand for solutions to process, store and move it faster and better."
That's the quote Intel's (INTC) CEO Bob Swann started his conference call with -- and his emphasis on the $300 billion total addressable market that produces for the semi giant underpins today's strength in the stock.
If it weren't for that and the $1 billion it got from Apple (AAPL) for some patents and people who had become totally superfluous to Intel, then I think the stock would be down, not up. The fact that the stock's running could be because Swann called the bottom in data center spend and says he expects a strong second half in that key line item. Given how much business in tech comes directly from data center expansion and how much the data center expansion seems to be on hold, it amounted to a good call even though there wasn't really much good about the quarter itself.
Still, I could argue that the data center call is more important, than, say, the Alphabet (GOOGL) call, because it is more applicable to more companies that play a role in the data center -- everything from Nvidia (NVDA) and Western Digital (WDC) to VMWare (VMW) and RedHat/IBM (IBM) .
So, Intel's a green light that blunts any negative fallout from Amazon (AMZN) , which is actually a spend story anyway.
It makes up for yesterday's 1% decline for the Nasdaq -- and makes it so the trade talks are all that's in play against the bulls.