Why Intel Stock Is Falling Today
(NASDAQ: INTC) stock is losing ground in Tuesday's trading. The semiconductor company's share price was down 2.6% as of 1:45 p.m. ET, and had been down as much as 3.2% earlier in the daily session.
Intel stock is falling today after Taiwan Semiconductor Manufacturing founder Morris Chang made comments criticizing the U.S.-based company's strategy and execution in the chip fabrication space. TSMC is the clear leader in the contract semiconductor manufacturing market, and Intel has been spending billions trying to match its rival's production capabilities.
Following the recent departure of former CEO Pat Gelsinger, Chang criticized Intel's push into the chip foundry space yesterday. Chang indicated that Intel should have focused on improving its position in designing artificial intelligence (AI) chips, rather than trying to become a major player in third-party chip fabrication services.
Source Fool.com
Intel Corp. Stock
Currently there is a rather negative sentiment for Intel Corp. with 14 Buy predictions and 18 Sell predictions..
This results in a negative potential of -28.6% based on a current price of 32.22 € and a target price of 23 € for the stock.
