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Intel's stock is skidding toward its longest losing streak in 7 months. Here's why.
The Intel Corp. fever has been cooling in recent days, with the stock in the midst of a three-day losing streak as investors try to make sense of the latest political developments and what they mean for Intel's future.
Intel shares are off 4.9% in afternoon action Wednesday, bringing their three-session loss to 14.3%. That puts the stock on track for its weakest three-day stretch since the one that ended Aug. 6, 2024, according to Dow Jones Market Data.
The stock has now seen most of its year-to-date gains evaporate. While Wall Street appeared hopeful earlier in the year that the Trump administration might look to support Intel and prop up domestic chip manufacturing, President Donald Trump signaled Tuesday that he wasn't a proponent of the Chips Act, which was designed to give funds to Intel and other chip makers involved in manufacturing work on U.S. soil.
