Why Intel Stock Slumped 12% in August
Shares of Intel (NASDAQ: INTC) dropped 12.1% in August, according to data provided by S&P Global Market Intelligence. That continued the semiconductor stock's steady downward spiral. Shares are now down nearly 40% this year.
While the issues plaguing the stock haven't gone away, Intel did take a significant step toward addressing a big concern last month.
Overall, August was a light month on the news front for Intel. One notable item came from Moody's. While the credit rating agency affirmed Intel's A1 rating, it revised its outlook from stable to negative. Moody's analyst Richard Lane wrote that the rating agency changed its outlook due to Intel's "ongoing challenges to consistently execute on its manufacturing and product development in the face of a weakening macro environment, strong competitive challenges, and supply chain disruptions."
Source Fool.com
