Intel's stock price pulled back towards the $100 level. This followed a recent rally that saw it climb to around $106.
The prospect of a 10% price increase for its personal-computer processors reportedly fueled the initial surge.
Piper Sandler upgraded Intel's stock to a "hold" rating.
Investors weigh the potential benefits of price hikes against ongoing challenges. These challenges include market-share losses to competitors and significant operating losses in its foundry division.
Recent volatility highlights the market's mixed sentiment regarding the chipmaker's long-term turnaround efforts.