Why Intel Stock Is Crashing Today
Shares of (NASDAQ: INTC) are tumbling on Thursday. The chipmaker's stock lost 10.8% as of 1:40 p.m. ET despite a brief bump earlier on positive news. The decline comes as the S 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) saw deep red.
A potentially transformative deal with TSMC was overshadowed by China's retaliation to Trump's tariffs.
Intel and Taiwan Semiconductor Manufacturing (TSMC) -- the world's premier chip manufacturer -- have reportedly reached a tentative agreement that could revitalize Intel's struggling foundry business. Under the deal, TSMC would take a 20% stake in a new organization that would operate Intel's semiconductor manufacturing facilities, with Intel and other U.S. semiconductor firms controlling the remainder.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 24 Buy predictions and 19 Sell predictions.
On the other hand, the target price of 29 € is below the current price of 39.4 € for Intel Corp., so the potential is actually -26.4%.
