Why Intel Stock Was Tumbling Today
Shares of Intel (NASDAQ: INTC) were taking a dive on Friday after the semiconductor giant offered a disappointing forecast for the second quarter, confirming fears that it's still missing out on the artificial intelligence (AI) boom.
As a result, the stock was down 9.7% as of 1:47 p.m. ET.
For the first quarter, Intel reported a 9% increase in revenue to $12.7 billion, well ahead of estimates at $11.9 billion. Revenue growth in its PC-focused client computing group bounced back, rising 31% to $7.5 billion, though the data center and AI segment was weak, with revenue up just 5% to $3 billion.
Source Fool.com
Intel Corp. Stock
€29.29
-0.830%
Currently there is a rather positive sentiment for Intel Corp. with 26 Buy predictions and 12 Sell predictions.
As a result the target price of 40 € shows a positive potential of 36.57% compared to the current price of 29.29 € for Intel Corp..
