Why Intel Stock Is Sinking Today
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Intel's stock is down 7.1% due to negative news regarding its foundry business. A TSMC board member denied rumors of a potential takeover of Intel's chip foundry, which has been struggling with losses and missed milestones. Investors are uncertain about the future direction under new CEO Lip-Bu Tan, with speculation about selling the foundry or forming partnerships. The outlook remains unclear as interest from TSMC and other companies is uncertain.
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