Intel Plunges 10.46% on Concerns Over $500B Foundry Expansion
INTC•INTC•INTC•INTC•Intel shares slid 10.46% July 7 after investors questioned progress on its $500 billion foundry expansion, while AMD retreated 8.15% and Microsoft gained 1.91%. A sector-wide recovery in chip stocks was erased by a broad market selloff, amplifying volatility in Intel’s stock performance.
Intel committed roughly $500 billion to build out its foundry business but has yet to showcase major customer wins or volume ramps. The lack of visible proof points led investors to question near-term returns, driving the stock down 10.46% on July 7.
An earlier rebound in chip stocks was wiped out by a broad market selloff that knocked AMD down 8.15%, while Microsoft bucked the trend with a 1.91% gain. The swing highlights the chip sector’s sensitivity to both company-specific developments and overall market moves.
