🔴 Intel is trading 7.9% down today as chip stocks pull back after an extended rally

Intel is trading 7.9% down today at $31,060 ARS as semiconductor names face a sharp pullback following an extended market rally.

• The decline is attributed to sector-wide valuation concerns and profit-taking rather than any new negative, company-specific catalysts.
• The move comes despite yesterday’s positive news that Intel became the first to utilize ASML’s $400 million High-NA EUV tool for high-volume Panther Lake production.