Intel Stock Alert: Do NOT Buy-the-Dip in INTC
Intel just delivered a shockingly bad quarterly print.The company’s stock is trading at its lowest level since 2013.The situation at Intel looks likely to get worse before it gets better.Microchip giant Intel just delivered one of the worst quarterly financial results ever, sending Intel stock plummeting. The company’s share price plunged 26% in one day and registered its worst performance in 50 years. Intel stock is now trading at its lowest level since 2013.The earnings report was so bad that Intel dragged the entire chip sector down with it. Mighty Nvidia fell 2% on the day.With INTC stock now changing hands at $21 a share, some investors might be tempted to buy-the-dip in this beaten down company. But that would be a mistake as the situation with Intel stock is likely to get worse before it gets better.Intel is spending tens of billions of dollars to develop microchip manufacturing plants in the U