Intel Corporation (NASDAQ: INTC)
Intel Corporation was off to what seemed like a relatively normal day in the market. While the stock did see its ups and downs, it stayed right around the breakeven point. However, minutes ago, that all changed as the stock started to take a dive. Below, we’ll talk about what we’re seeing from INTC, why, and what we’ll be watching for ahead.
What We’re Seeing From INTC
As mentioned above, Intel Corporation looked like it was going to have a normal day in the market. Throughout the day, the stock saw its ups and downs, but none of the movement was worth writing home about. That is, until minutes ago when the stock started to take a dive. At the moment (12:50), INTC is trading at $35.73 per share after a loss of $0.65 per share (1.78%) thus far today.
Why The Stock Is Falling
As is usually the case, our partners at Trade Ideas were the first to inform us of the losses on INTC. As soon as they did, the CNA Finance team started digging to see exactly what was causing the movement. It didn’t take long to uncover the story. At the moment, the company is giving an investor presentation, and the information offered is concerning.
While we are watching the feeds, the first thing that we’ve seen has been that Intel Corporation has cut its 5-year forecast for data center growth. Unfortunately, it was cut to single-digit growth, causing concerns. The meeting is still ongoing at the moment.
What We’ll Be Watching For Ahead?
Moving forward, the CNA Finance team will be keeping a close eye on INTC. In particular, we’ll be watching for further news associated with the meeting that is still ongoing. We’ll be watching the news and bringing it to you as it breaks!
UPDATE: INTC to add 3,000 jobs at factory in Arizona.
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