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
€31.12
1.270%
Our community is currently low on Intel Corp. with 13 Buy predictions and 17 Sell predictions.
A potential of -38.94%, resulting from comparing the current price of 31.12 € with the target price of 19 € for Intel Corp., shows the chance of incurring significant losses.
