Intel Stock Drops 3.51% After Record-Breaking $20 Billion Equity Offering

Intel's stock price dropped by 3.51% on Thursday after the company priced an upsized public equity offering of about 210.5 million shares at $95 each, increasing the deal size to $20B from $15B.

The secondary offering was supported by major Wall Street banks as joint bookrunners, and the stock was little changed on the pricing day.

However, Apple's announcement that it may remove support for Intel-based Macs in apps that require macOS 13 or later further marginalized Intel's legacy presence in the Mac ecosystem.

Despite this, Intel's recent price range from the high $80s to above $106 shows traders treating it like a battleground name, not a forgotten value play.