Why Intel Stock Is Plummeting Today
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Intel's stock is down 9.4% despite beating revenue targets of $12.9 billion against an estimate of $11.97 billion. The company announced a strategic shift, halting projects in Germany and Poland, and slowing construction in Ohio. CEO Lip-Bu Tan indicated a move towards external foundries, raising concerns about Intel's future competitiveness and profitability. Investors are left uncertain about the company's direction, leading to a potential further decline in stock value. It is advised to hold off on investments for now.
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