From NASDAQ:

Intel stock lost nearly 5% on the first day of 2024, as ASML’s decision not to ship advanced chip-fabrication machines to China weighed on company valuation. Economic and political development dominate the chip industry, and tech stocks tumbled after Apple was downgraded by a financial firm. Despite recent gains, investors should consider the increased valuation and the ongoing turnaround efforts before investing in Intel stock. The Motley Fool Stock Advisor analyst team identified 10 best stocks to buy now, none of which was Intel.

The chip industry’s strategic position in U.S.-China tensions dominated Intel stock’s recent decline. ASML’s halt on shipments to China contributed to bearish momentum, as did Apple’s financial downgrade. Intel’s recent gains bring its valuation to much more growth-dependent levels than a year ago. Intel’s prospects are closely linked with initiatives to bolster the U.S. and other governments’ chip production and AI industry. The Motley Fool Stock Advisor analyst team identified 10 best stocks to buy now, none of which was Intel.



Read more: Intel Stock Fell Today — Is It a Buy for 2024?