Why Intel Stock Wilted on Wednesday
(NASDAQ: INTC) wasn't having a great week, with fresh news sending its share price down yet again on Wednesday. The company's stock lost 1.5% of its value on a report that a potential suitor is apparently in wait-and-see mode regarding an acquisition. That decline contrasted with the S 500 index's positive day, as that closely watched indicator rose by 0.5%.
That suitor is fellow U.S. chipmaker Qualcomm. According to an article published in Bloomberg, it will wait until after the upcoming presidential election -- perhaps past the January inauguration -- to determine whether to keep pursuing Intel as an acquisition target.
Citing unnamed "people familiar with the matter," the business news agency said that Qualcomm management "wants greater clarity," on the country's next leader. This particularly applies to their stance on the U.S.-China relationship, and their views on antitrust law.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 46 Buy predictions and 24 Sell predictions.
On the other hand, the target price of 70 € is below the current price of 87.92 € for Intel Corp., so the potential is actually -20.38%.
