What's Going On With Intel Stock Today?
Portfolio Pulse from Erica Kollmann
Intel Corporation (NASDAQ: INTC) shares are trading lower due to a broader tech sector sell-off amid U.S. economic concerns and geopolitical tensions. Intel's stock has dropped over 30% following a disappointing second-quarter earnings report, a $10 billion cost-reduction plan, and the suspension of its dividend. Analysts have mixed ratings on Intel, with a 12-month price target averaging $27.71.
August 05, 2024 | 5:17 pm
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NEGATIVE IMPACT
Intel's stock is down over 30% following a disappointing Q2 earnings report, a $10 billion cost-reduction plan, and the suspension of its dividend. The stock is trading below its 50-day moving average, and analysts have mixed ratings with a 12-month price target of $27.71.
The significant drop in Intel's stock price is due to a combination of poor earnings results, a substantial cost-reduction plan, and the suspension of its dividend. These factors, along with broader market concerns, are likely to exert downward pressure on the stock in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100