Why Intel Stock Is Falling After Initially Posting Gains Today
(NASDAQ: INTC) stock was gaining ground early in Thursday's trading, but traded lower later in the day. The semiconductor specialist's share price was down 1% as of 3:45 p.m. ET along with a 1.3% decline for the S 500 index and a 2.3% decline for the Nasdaq Composite index. The stock had been up as much as 3.7% earlier in the day.
Investors were optimistic following reports that the Trump administration is encouraging Taiwan Semiconductor Manufacturing (NYSE: TSM) to acquire the company's chip-fabrication unit.
The Trump administration is reportedly promoting a deal that would see TSMC either buy Intel's foundry business or partner with the company to run the unit. TSMC is the world's leading manufacturer of high-performance semiconductors and has been eyed as a potential buyer for Intel's struggling chip fabrication unit. Intel's fab business has been racking up massive losses and missing key performance milestones, but it still represents an important national resource for the U.S.
Source Fool.com
Intel Corp. Stock
Our community is currently low on Intel Corp. with 9 Buy predictions and 16 Sell predictions.
On the other hand, the target price of 19 € is above the current price of 17.94 € for Intel Corp., so the potential is actually 5.88%.
