Stock Market Today, July 24: Intel Reverses Gains on Foundry and AI Spending Concerns
Today, July 24, 2026, shares fell almost 8% as strong premarket momentum evaporated as investors refocused on increasing capex plans.
Overview
Intel (NASDAQ:INTC), a leading semiconductor manufacturer, closed down 7.89% at $92.32. Investors sold off Intel shares after initial optimism following yesterday’s earnings, as questions about foundry customers and artificial intelligence (AI) progress took focus. Trading volume reached 179.1 million shares, coming in about 36% above its three-month average of 131.4 million shares.
S&P 500 closed at 7,412, up 0.05%, while the Nasdaq Composite finished at 24,976, down 0.64%. Among semiconductor peers, Advanced Micro Devices closed at $521.95, down 3.29%, and Texas Instruments closed at $279.58, down 1.90%, reflecting broader chip weakness.
Details
Intel rose in after-hours trading yesterday as investors reacted to its strong quarterly results, with revenue up 25% year-over-year, topping analyst estimates. However, shares fell today as Wall Street refocused on demand at its foundry unit, high capital expenditure (capex), and the possibility it might tap markets for additional funds, which would dilute shareholder value.
Source
Originally published at www.fool.com.