Why Intel Stock Plummeted Again Today
(NASDAQ: INTC) stock got hit hard again in Monday's trading. The semiconductor company's share ended the daily session down 6.4%, according to data from S&P Global Market Intelligence. Meanwhile, the S 500, Nasdaq Composite, and Dow indexes closed out the session down 3%, 3.4%, and 2.6%, respectively.
After a brutal sell-off last Friday, Intel stock lost ground again today amid a pullback for the broader market stemming from a reaction to carry trading using the Japanese yen. The chip specialist's share price was likely also negatively impacted by bearish research notes from analysts following last week's very disappointing second-quarter report.
Intel stock hit a fresh 10-year low on Monday, but it was far from the only company to see a significant valuation contraction. The broader market sank following selling action and concerns about risks associated with "carry trade" strategies using the Japanese yen. Due to low interest rates in the country, some investors have been borrowing the country's currency and then pouring it into the "Magnificent Seven" and other growth-oriented stocks.
Source Fool.com
Intel Corp. Stock
Our community is currently high on Intel Corp. with 22 Buy predictions and 16 Sell predictions.
With a target price of 38 € there is potential for a 106.1% increase which would mean more than doubling the current price of 18.44 € for Intel Corp..
