Computer memory specialist Micron Technology (NASDAQ: MU) stock tumbled 6.2% through 10:30 a.m. ET Wednesday, and for one simple reason: As you've probably heard, Bloomberg reports that President Trump is planning to take an equity stake in (NASDAQ: INTC).

Image source: Getty Images.

Yes, you read that right. Pursuant to the CHIPS Act passed under the Biden administration to support the U.S. semiconductor industry, Intel was awarded $10.9 billion in grants, but new negotiations between Intel and the White House suggest the Trump administration now wants to convert those grants into a 10% equity stake in Intel, effectively part-nationalizing the company.

Continue reading

Source Fool.com