Intel Sank Again Today -- Does Artificial Intelligence (AI) Make the Beaten-Down Stock a Buy?
(NASDAQ: INTC) stock suffered another day of sell-offs Thursday. The chip company's share price ended the daily session down 6.1%, according to data from S&P Global Market Intelligence.
Intel lost ground again as investors weighed the possibility that the company will not proceed with the construction of two semiconductor fabrication plants in Germany. Nothing has been officially announced that would suggest that the construction plans have been abandoned, but investors have been left in the dark about the project.
The two fabs were expected to be operational in 2027 and cost roughly $33 billion to build -- with a third of the cost being covered by the European Union. And while Intel hasn't provided much insight into the future of the fabs, Taiwan Semiconductor Manufacturing announced earlier this week that it had started construction on a new $11 billion fab in Germany -- with the E.U. covering half the cost.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 25 Buy predictions and 15 Sell predictions.
With a target price of 38 € there is a hugely positive potential of 90.59% for Intel Corp. compared to the current price of 19.94 €.
