Why Intel Stock Is Falling and Hit a New 10-Year Low Today
(NASDAQ: INTC) stock is sinking again in Friday's trading. The chip company's share price was down 2.1% as of 3:10 p.m. ET, according to data from S&P Global Market Intelligence.
Following disappointing August jobs numbers released the U.S. Labor Department today, the stock market is seeing an uptick in bearish sentiment -- and Intel is part of the pullback. Recent reports about the company's fabrication business and the possibility that it's eyeing selling off other parts of its business are also weighing on the chipmaker's valuation.
Today's jobs report showed that the U.S. economy added 142,000 jobs in August. This performance missed the average Wall Street estimate of 160,000 new job additions, but the shortfall is actually even more significant than it appears on a surface level. Reacting to declines in U.S. manufacturing and other bearish indicators, analysts and economists had already begun guiding jobs estimates for last month downward.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 29 Buy predictions and 15 Sell predictions.
With a target price of 38 € there is potential for a 120.24% increase which would mean more than doubling the current price of 17.25 € for Intel Corp..
