INTC is trading at $116.06 (-10.34%) as profit-taking hits the stock following its recent rally, compounded by broader macroeconomic weakness.
- Shares previously surged +16% on May 8 following an Apple manufacturing deal and gained another +3.62% on May 11, but are now retreating despite no fresh company-specific news.
- The NASDAQ is down 1.80% as high inflation (CPI at 3.8%), oil prices exceeding $107, and geopolitical tensions drive a widespread market sell-off.