Stocks
Intel Stock Slumps as $20B Equity Deal and Apple Shift Weigh on Momentum
Intel Corporation's stock has pulled back by 3.53% amid concerns over weakening PC demand and competitive chip pressures.
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, with the stock little changed on the day.
Apple's decision to tell Mac App Store developers they may drop support for Intel-based Macs in apps requiring macOS 13 or later has further marginalized Intel's legacy presence in the Mac ecosystem.