Semiconductor giant Intel (NASDAQ:INTC) added 80 basis point to the Fund’s return, as its stock rose 27.3% from $36.27 to $46.16. The company raised its financial forecast for the year due to surging demand for semiconductors in its data center business, especially from its cloud-computing customers. Intel also closed the acquisition of Mobileye, a leader in computer vision for autonomous driving, which will boost sales and earnings in the future.
From Jerome Dodson (Trades, Portfolio)'s fourth-quarter 2017 Parnassus Fund shareholder letter.
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