Why Micron Stock Got Clobbered Today
Computer memory specialist Micron Technology (NASDAQ: MU) stock tumbled 6.2% through 10:30 a.m. ET Wednesday, and for one simple reason: As you've probably heard, Bloomberg reports that President Trump is planning to take an equity stake in (NASDAQ: INTC).
Image source: Getty Images.
Yes, you read that right. Pursuant to the CHIPS Act passed under the Biden administration to support the U.S. semiconductor industry, Intel was awarded $10.9 billion in grants, but new negotiations between Intel and the White House suggest the Trump administration now wants to convert those grants into a 10% equity stake in Intel, effectively part-nationalizing the company.
Source Fool.com
Intel Corp. Stock
€84.58
-0.020%
Currently there is a rather positive sentiment for Intel Corp. with 46 Buy predictions and 25 Sell predictions.
However, we have a potential of -12.51% for Intel Corp. as the target price of 74 € is below the current price of 84.58 €.
