Why Intel Stock Is Sinking Today
(NASDAQ: INTC) stock is losing ground in Friday's trading. The semiconductor company's share price was down 4.6% as of 11:40 a.m. ET amid the backdrop of a 1.6% decline for the S 500 index and a 2% fall for the Nasdaq Composite index.
The broader market is falling today due to bearish macroeconomic indicators, and Intel stock is participating in the pullback. The company's share price is also likely being pressured by unfavorable coverage from analysts.
Investors got some unwelcome news when the U.S. Bureau of Labor Statistics published its latest jobs data this morning. The report showed that 256,000 jobs were added in December, which came in far ahead of the 155,000 job additions that had been called for by the average economist estimate. The jobs data makes it likely that the Federal Reserve will be more cautious when it comes to cutting interest rates.
Source Fool.com
Intel Corp. Stock
Our community is currently low on Intel Corp. with 14 Buy predictions and 19 Sell predictions.
A potential of -27.54%, resulting from comparing the current price of 31.74 € with the target price of 23 € for Intel Corp., shows the chance of incurring significant losses.
