Intel Stock Sell-Off Continues: Is It Time to Buy or Sell?
Intel (NASDAQ: INTC) stock saw another day of decline on Wednesday, with shares closing 2.7% lower. The company’s latest 13F filing revealed that Intel had sold its stake in Arm Holdings, a move that didn’t sit well with investors.
In the second quarter, Intel sold all 1.18 million shares of Arm stock it owned, generating an estimated $146.7 million in cash. This decision comes as Intel undergoes significant cost-cutting and restructuring efforts, reflecting the financial pressures facing the company. While the sale may not have a major impact on Intel’s overall market cap of $85 billion, it does eliminate a potential positive catalyst for the struggling company, whose stock has plummeted by 60% in 2024, while Arm’s stock has surged by 67.5%.
Despite the ongoing challenges, there was some good news for Intel. Karma Automotive announced a partnership with Intel to develop software-defined vehicle architecture for upcoming car models. This collaboration could be a stepping stone for Intel’s automotive division, offering potential for further growth in the future. More updates on Intel’s auto unit, AI projects, and fabrication business are expected at the upcoming Deutsche Bank 2024 Technology Conference on August 29.
So, is now a good time to invest in Intel? The Motley Fool Stock Advisor team recently highlighted 10 stocks they believe have strong growth potential, with Intel not making the list. Their past recommendations, such as Nvidia back in 2005, have delivered impressive returns. Stock Advisor has outperformed the S&P 500 since 2002, providing investors with valuable insights and regular stock picks.
While Intel’s recent stock performance may be a cause for concern, the company’s strategic partnerships and future developments could present new opportunities for investors. Stay informed and consider all factors before making any investment decisions.
For more expert analysis and stock recommendations, visit Extreme Investor Network to access valuable insights and stay ahead in the world of finance.