Reported about 21 hours ago
Intel's stock fell by 3.3% on Tuesday after it was revealed that the company received only $7.9 billion in funding through the CHIPS Act, falling short of the anticipated $8.5 billion. Analysts at Citi noted that performance issues and delays in construction contributed to this shortfall, maintaining a neutral rating with a one-year price target of $22. Although the funding is intended to bolster Intel's fabrication business, the company must prove its ability to attract high-end customers to potentially see a rise in stock value.
Source: YAHOO