Where Will Intel Stock Be in 1 Year?
This has turned out to be a terrible year for (NASDAQ: INTC) investors so far, as shares of the chipmaker have crashed 60% in 2024, and the stock's decline was exacerbated by its second-quarter 2024 (ended June 29) results released on Aug. 1.
Intel investors were in for a rude shock, as the stock fell 26% in a single day following its quarterly report. This sharp sell-off was triggered by Intel's big bottom-line miss, poor guidance, the suspension of its dividend, and upcoming layoffs. So Intel stock's dive following its recent results seems justified. However, the stock has a median 12-month price target of $25 per 45 analysts covering Intel, which points toward a 25% jump from current levels.
But can Intel stock really deliver such gains in the coming year in light of the challenges that it is facing? Let's find out.
Source Fool.com