Why Intel Stock Is Falling Today
(NASDAQ: INTC) stock is losing ground in Tuesday's trading. The chip company's share price was down 3.8% as of 11:45 a.m. ET and had been down as much as 4.6% earlier in the day's session.
Intel stock is falling today amid concerns that the company might not get funding that it's slated to receive as part of the CHIPS Act. In particular, recent reports appear to have investors worried that the company may not move ahead with the planned construction of a semiconductor fabrication plant in Ohio.
Recently published reports show that officials in Ohio are concerned about whether federal funding for a planned chip fabrication plant in the state will actually arrive. The plant is projected to cost roughly $20 billion to build and likely won't be possible if funding from the CHIPS Act doesn't come through.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 47 Buy predictions and 24 Sell predictions.
On the other hand, the target price of 74 € is below the current price of 83.56 € for Intel Corp., so the potential is actually -11.44%.
