Why Intel Stock Is Sinking Today

Intel (NASDAQ: INTC) stock is selling off again in Tuesday's trading. The semiconductor company's share price was down 4.5% as of 3 p.m. ET and been down as much as 8.7% earlier in trading.Investors are selling out of Intel stock after Taiwan Semiconductor Manufacturing's CEO visited the White House yesterday and announced a $100 billion investment to expand its U.S. manufacturing capacity. Some investors have been hoping that TSMC will buy Intel's foundry business, and yesterday's news left them disappointed.Intel's valuation is sinking today as investors weight the possibility that a potential bullish catalyst for the stock might not come to pass. The stock rose early in yesterday's trading as excitement built that TSMC CEO C.C. Wei could announce an acquisition of Intel's foundry unit or partnership to run the business, but the gains quickly reversed after no news arrived on that front. Adding another layer of bearish complexity to the situation, TSMC's $100 billion investment in U.S. operations could mean that Intel's foundry business will be facing much more competition on its home turf. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool