Intel Dropped After Strong Earnings. Here Is What $1,000 Invested Could Return Over 3 Years.
The chipmaker announced a $15 billion secondary stock offering this week.
Overview
Intel (NASDAQ: INTC) stock fell by about 4% on Monday after the chipmaker announced plans to sell $15 billion worth of shares to fund capital expenditures and boost its working capital.
"Customers continue to signal a strong and sustainable demand environment, driven by unprecedented investment in AI compute. Progress in emerging areas including physical AI, purpose-built silicon, advanced packaging and external wafers represent significant growth opportunities for Intel," its press release announcing the the move stated.
Details
That continued the steep decline Intel stock has been on since the company released its second-quarter results on July 23. As of Aug. 10, it was trading at less than $98 per share, down 31% from its recent peak on June 22.
Source
Originally published at www.fool.com.