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What's Going On With Intel Stock?
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What's Going On With Intel Stock?
Aug 7, 2024 9:53 AM

Intel Corp ( INTC ) shares are trading marginally higher by 1.48% to $20.12 during Wednesday’s session. The stock has seen marked volatility and is rebounding slightly after last week’s second-quarter earnings report showed disappointing results.

What’s Happening?

Intel ( INTC ) has recently drawn significant attention due to major restructuring and disappointing quarterly earnings. The company reported earnings of just 2 cents per share, falling far short of the analyst estimate of 10 cents and marking an 84.62% decline from the previous year.

In response, Intel ( INTC ) announced a $10 billion cost-reduction plan, which includes reducing its workforce by over 15% by the end of 2024 and suspending its dividend starting in fourth-quarter 2024.

Analysts have responded with mixed reactions. BofA Securities downgraded Intel ( INTC ) to Underperform, lowering its price target to $23 due to concerns about deeper competitive and strategic issues.

Cantor Fitzgerald and Roth/MKM maintained Neutral ratings but revised their price targets downward, citing challenges with manufacturing and high costs.

Wedbush also kept a Neutral rating but reduced its price target, highlighting uncertainty around Intel's ( INTC ) technological transitions…

Read Also: Why Talis Biomedical Stock Is Getting Obliterated Today

How To Buy INTC Stock

By now you're likely curious about how to participate in the market for Intel ( INTC ) – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

In the the case of Intel ( INTC ), which is trading at $19.95 as of publishing time, $100 would buy you 5.01 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

According to data from Benzinga Pro, INTC has a 52-week high of $51.28 and a 52-week low of $19.29.

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