Intel Tumbles to 16-Year Low Amid Semiconductor Stock Slump
Intel ( NASDAQ: INTC ) shares plunged 7.3% on Tuesday to close at $18.13, which marked the lowest closing price since July 2009, as tariff concerns continue to rock the semiconductor sector.
Intel's stock price has dropped over 50% in the past year. The company brought back a former board member who previously worked at Cadence Design Systems as part of their leadership changes. CDNS ) CEO Lip-Bu Tan last month to help right the ship. Last year, Intel reported cash flow of negative $2.2B. Intel is banking on the success of 18A, its new semiconductor manufacturing process, for its foundry business. Its lead product is expected to launch during the second half of this year.
"If everything progresses smoothly for division 18A in the coming months, Tan believes the cultural issues he described will be resolved for future operations," stated Joe Albano , Lead Investor for Tech Cache, in an analysis posted today. "If 18A doesn't go well, this is a continued road to attempting to fix foundational issues with debt burying the company."
Shares of semiconductor companies fell across the board on Tuesday, as several firms reached their lowest points in years. Qorvo ( NASDAQ: QRVO ) sank 9.9%, falling to its lowest stock price since 2016. Micron Technology ( NASDAQ: MU ) declined 4.1% , with shares closing at their lowest since 2023. Advanced Micro Devices ( NASDAQ: AMD ) sank 6.5% reaching its nadir since February 2023.
Qualcomm ( QCOM ) fell 4% , and Nvidia ( NVDA ) slipped 1.6% Taiwan Semiconductor Manufacturing Company ( TSM ) and ARM Holdings ( ARM ) both dropped 3% .
Several semis dropped by double-digit percentages. Allegro MicroSystems ( NASDAQ: ALGM ) and Impinj ( NASDAQ: PI ) both plunged 10% , while Wolfspeed ( NYSE: WOLF ) tanked 15.8% .
The Philadelphia Semiconductor Index ( SOX ) fell 3.6% .
Broadcom ( NASDAQ: AVGO ) was virtually the only stock in the sector not bleeding on Tuesday, as it ticked up 1.2% by the closing bell.
Further details on Allegro MicroSystems, AMD, and Intel
- Turbulent Market Conditions, Yet Abundant Possibilities Within Technology Sectors
- Intel: Whether a New CEO or Not, The Goal Is 18A Or Nothing
- Wall Street Has Abandoned Intel - Are You Considering Going Against the Consensus?
- Top stock gainers and losers Tuesday included health insurance companies, AVBO, and others.
- Micron to pass on tariff-related surcharge on some products to customers - report
Posting Komentar untuk "Intel Tumbles to 16-Year Low Amid Semiconductor Stock Slump"
Please Leave a wise comment, Thank you