After a stellar performance in 2023 that saw shares rising 90%, (NASDAQ: INTC) is off to an ominous start in the new year, losing more than 6% of its value as of this writing.
The drop in Intel stock may initially seem a bit surprising in the absence of any company-specific information that could have negatively impacted investor sentiment. However, savvy investors may be asking if the recent pullback in Intel stock could be used as an opportunity to buy more shares of the chipmaker considering that it is set for a turnaround in 2024.
Let's check if that could indeed be the case.
Source Fool.com