Why Intel Stock Slumped on Tuesday
Shares of Intel (NASDAQ: INTC) tumbled to kick off the new year, falling as much as 5.6%. As of 3:35 p.m. ET, the stock was down 5.19%.
Part of what dragged the semiconductor company down was the stock market's broader decline to start the year. A Wall Street analyst also added fuel to the fire. Despite issuing a higher price target, the analyst doesn't view Intel as one of a select group of "attractive" chip stocks.
Stifel analyst Tore Svanberg maintained a hold rating on Intel, though he increased his price target to $45 from $38. While that might seem like good news at first glance, it suggests an additional downside of 10% compared to Friday's closing price.
Source Fool.com
Intel Corp. Stock
€28.86
-0.140%
Our community is currently high on Intel Corp. with 22 Buy predictions and 12 Sell predictions.
With a target price of 37 € there is a positive potential of 28.21% for Intel Corp. compared to the current price of 28.86 €.
