Why Intel Stock Was Such a Dog on Friday
Once the head of the pack in computer processors, Intel (NASDAQ: INTC) is coming under serious attack in its core business. Rival big tech companies are opting to develop their own chips, with the latest being mighty Microsoft (NASDAQ: MSFT). On Friday's news that Microsoft is doing the go-it-alone thing, Intel's stock fell by 6.3% on the day.
In a big "uh-oh" for Intel, various media outlets reported that Microsoft is developing proprietary chips to power the servers that undergird its considerable cloud services. According to Bloomberg, it's also considering the development of different processors that would be the brains of its Surface line of tablet PCs.
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Source Fool.com
