INTC is trading at $82.22 (-3%) as the company's recent $6.5 billion bond offering comes into focus for investors, alongside broader market caution.
- On April 27, Intel moved forward with a $6.5 billion bond sale which attracted approximately $50 billion in orders. Proceeds are intended to help repurchase a stake in its Fab 34 joint venture in Ireland.
- The move also occurs amid wider market weakness, with NASDAQ futures trading lower as investors remain cautious ahead of the Federal Reserve's policy meeting.
- The stock is seeing a pullback after a significant rally last week driven by a strong Q1 earnings beat and news of a foundry partnership with Tesla.