Why Intel Stock Fell 5.7% Today
Shares of (NASDAQ: INTC) sank on Monday, finishing down 5.7%. The drop came as the S 500 gained 0.5% and the Nasdaq Composite rose 0.4%.
The struggling chipmaker's stock is still sliding after its most recent earnings disappointed investors. While the company technically beat fourth-quarter estimates, management warned that "acute internal supply constraints" will lead to depressed sales and earnings figures in the coming months and set forward targets well short of analyst expectations. The stock dropped nearly 20% on Friday following the company's Q4 release.
The core issue for Intel right now isn't a lack of demand; instead, the company is struggling to deliver enough product. CFO David Zinsner admitted that the company does not have the capacity to meet current demand.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 23 Buy predictions and 19 Sell predictions.
On the other hand, the target price of 29 € is below the current price of 37.44 € for Intel Corp., so the potential is actually -22.54%.
