Why Intel Stock Is Falling Today
(NASDAQ: INTC) stock is slipping in Wednesday's trading. The company's share price was down 2.8% as of 1:15 p.m. EDT, according to data from S&P Global Market Intelligence.
While there isn't any fresh, business-specific news pulling Intel stock lower today, the semiconductor giant's valuation is falling on the heels of influential earnings releases from two members of the Magnificent Seven. Alphabet and Tesla both published quarterly results after the market closed yesterday, and investors found things in both reports that are spurring sell-offs across the tech sector.
Alphabet delivered earnings per share (EPS) of $1.89 on sales of $84.74 billion in the second quarter, beating the average-analyst estimate's call for EPS of $1.85 on revenue of $84.29 billion. While the company's Q2 performance came in better than Wall Street had anticipated, the company's forward guidance suggested that the company's operating-income margin would be pressured due to increased tech-infrastructure spending and other factors.
Source Fool.com
Intel Corp. Stock
Currently there is a rather positive sentiment for Intel Corp. with 47 Buy predictions and 24 Sell predictions.
However, we have a potential of -8.91% for Intel Corp. as the target price of 72 € is below the current price of 79.04 €.
