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What's Going On With Intel Stock?

Benzinga ·  Aug 9 23:35

Intel Corp (NASDAQ:INTC) shares are trading lower by 4.1% to $19.65 during Friday session. The stock has seen marked volatility in recent sessions after last week's second-quarter earnings report showed disappointing results.

What's Happening?

Intel has recently drawn significant attention due to major restructuring and disappointing quarterly earnings. The company reported earnings of just 2 cents per share, falling far short of the analyst estimate of 10 cents and marking an 84.62% decline from the previous year.

In response, Intel announced a $10 billion cost-reduction plan, which includes reducing its workforce by over 15% by the end of 2024 and suspending its dividend starting in fourth-quarter 2024.

Analysts have responded with mixed reactions. BofA Securities downgraded Intel to Underperform, lowering its price target to $23 due to concerns about deeper competitive and strategic issues.

Cantor Fitzgerald and Roth/MKM maintained Neutral ratings but revised their price targets downward, citing challenges with manufacturing and high costs.

Wedbush also kept a Neutral rating but reduced its price target, highlighting uncertainty around Intel's technological transitions...Read More

Read Also: Wall Street Shifts To 'Bossing The Fed Into Big Rate Cuts' After Bank Of Japan's Policy U-Turn, Analyst Says

How To Buy INTC Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Intel's case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, INTC has a 52-week high of $51.28 and a 52-week low of $18.84.

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