Intel is trading 4.9% down at $91.65, extending its 6.58% decline on August 18, as semiconductor shares sell off amid elevated Treasury yields, oil prices, geopolitical uncertainty, and pre-FOMC caution.
- Nvidia and Micron also weakened.
- UBS reduced its price target to $112 from $121; investors remain concerned about dilution following Intel’s $20 billion stock offering.
- The August 19 GPU-price report points to rising memory costs but does not clearly explain today’s decline.