Intel Sets 52-Week High as Earnings Impress

Updated from 9:07 a.m.

Intel(INTC Quote) was up 3% after setting a 52-week high earlier Wednesday as investors welcomed its blowout third-quarter earnings report.

Intel's shares were recently up $1.03 to $32.11 after topping out earlier in the session at $32.78, eclipsing the old 52-week peak of $31.10.

After the bell Tuesday, the microprocessor giant reported third-quarter revenue of $7.83 billion, 20% above last year's levels and higher than analysts' expectations for $7.69 billion. Net income of $1.7 billion translated into earnings per share of 25 cents, more than double last year's 10 cents and 2 cents a share above expectations. ...