Why Intel Stock Sank Today
(NASDAQ: INTC) stock moved lower on Tuesday. The company's share price closed out the session down 2.9% and had been off as much as 4.9% earlier in trading. Meanwhile, the S 500 index ended the day up 0.3%, and the Nasdaq Composite gained 0.8%.
Intel lost ground today following news and comments from the company's Vision 2025 event. The company's new CEO, Lip-Bu Tan, outlined some of the big challenges involved in the business's turnaround and its next strategic steps.
Intel's Vision conference kicked off yesterday, and investors got some new insight into the company's outlook. As the company's new leader, Lip-Bu Tan is aiming to make major culture changes that can help the business get back on track and catch up to artificial intelligence (AI) chip-design rivals, including Nvidia and Advanced Micro Devices, and turn ambitions of becoming a major third-party foundry services provider into a reality. Tan also said that the company would be spinning off non-core business units. While there wasn't any major bad news delivered at the event, some investors are likely disappointed that Intel did not announce or hint at plans to sell off the foundry business.
Source Fool.com
Intel Corp. Stock
Currently there is a rather negative sentiment for Intel Corp. with 12 Buy predictions and 15 Sell predictions..
This results in a negative potential of -39.69% based on a current price of 31.51 € and a target price of 19 € for the stock.
