Intel Drops Over 12% After Weak Forecast, Pressuring Chip Stocks
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5d ago
0mins
Source: NASDAQ.COM
- Chip Sector Pressure: Intel (INTC) shares plummeted over 12% following CEO Lip-Bu Tan's weak forecast and warnings about manufacturing issues, leading to broader pressure on the chip sector and diminishing investor confidence.
- Manufacturing PMI Data: The US January S&P manufacturing PMI rose slightly by 0.1 to 51.9, falling short of the expected 52.0, indicating sluggish growth in the manufacturing sector that could dampen future economic recovery expectations.
- Precious Metals Surge: Gold, silver, and platinum prices reached new highs due to a weaker dollar and geopolitical risks, reflecting increased investor demand for precious metals as a store of value, which may influence future investment flows.
- WTI Crude Price Spike: WTI crude oil prices jumped over 3% to a one-week high as the US threatened to curb dollar supplies for Iraqi oil sales, potentially leading to volatility in the global energy market.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
