Why Intel Stock Is Falling Today
(NASDAQ: INTC) stock is falling in Monday's trading. The semiconductor company's share price was down 2% as of 11 a.m. ET, according to data from S&P Global Market Intelligence. It had been down as much as 4.7% earlier in the day's trading.
Intel stock is losing ground today following news that China is making moves to ban the use of its central processing units (CPUs) and other chips in government computers. According to a report from The Financial Times, which broke the news on Sunday, Chinese government agencies ranking above the township level will be barred from using the company's processors in their systems. The new guidelines also prohibit the use of CPUs from Advanced Micro Devices.
In response to rising tensions with the U.S. and other Western countries, China is aiming to minimize its reliance on imported technologies. The country likely sees the use of chips from Intel and AMD as a national security risk. In addition to this concern, barring the usage of nondomestic processors in government computers and servers will also promote the development and adoption of locally produced alternatives.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 23 Buy predictions and 13 Sell predictions.
With a target price of 37 € there is a positive potential of 28.03% for Intel Corp. compared to the current price of 28.9 €.
