Top Stories
Top Stories

Quants likely buying these stocks on Intel news

Getty Images

Intel shares surged Friday after the chipmaker raised third-quarter revenue expectations. Quant hedge funds are likely buying Micron on the news. Here's why.

History shows Micron and certain other chipmakers have the highest correlation to Intel's stock price.

Intel was up more than 2 percent Friday morning.

Using Kensho, CNBC Pro found that Intel jumped 2 percent in a single trading day more than 250 times in the last decade. Here were the best performing stocks in the Nasdaq 100 index on those days, on average: