Intel (NASDAQ: INTC) stock is falling in Tuesday’s trading. The company’s share price was down 4.9% as of 1:25 p.m. ET, and the S&P 500 and Nasdaq Composite had fallen 1.3% and 1.2%, respectively.
Intel and other tech stocks are getting hit with pullbacks today as investors digest potential headwinds created by the U.S. and Israel’s war with Iran. Despite the sell-off, the semiconductor company’s share price is still up roughly 17% year to date.
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Investors appear to be losing confidence that the recent escalation of conflict in the Middle East will be able to be resolved in the immediate future. Both sides in the war have been ramping up strikes on targets, and Iran’s closure of the Strait of Hormuz has resulted in surging oil prices. The potential for the war to continue escalating has also raised fears about sustained supply chain disruptions and accelerating inflation. If things take a turn for the worse on these fronts, Intel and other tech stocks could continue to face pressures.
Even with some significant sell-offs recently, Intel stock is still up roughly 82% over the last year of trading. Amid geopolitical uncertainty, Intel’s status as the only U.S. company capable of large-scale semiconductor fabrication gives it some defensive benefits. Continued losses in central-processing-unit (CPU) market share mean that the stock is still a risky play, but it’s reasonable to expect that government initiatives will continue to support the company’s domestic fab business.
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