Why Intel Stock Is Falling Today
Intel (NASDAQ: INTC) stock price was down by 2.9% as of 3 p.m. ET Monday, even as the S&P 500 index was up by 0.5% and the Nasdaq Composite had gained 1% for the day.
The chipmaker’s decline appears to be linked to an article published late Friday by The Wall Street Journal that highlighted the challenges facing the company. The pullback for the stock looks even more significant because most major chip stocks were rallying Monday after Foxconn’s fourth-quarter report arrived with bullish indicators for the artificial intelligence (AI) market.
After the market closed on Friday, The Wall Street Journal published an article by technology writer Christopher Mims titled “Intel’s Problems Are Even Worse Than You’ve Heard.” In it, he highlighted the company’s declining market share in semiconductors and the challenges to its traditional sources of profitability.
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