Intel Corp. (NASDAQ:INTC) stock fell nearly 5% on Thursday as investors took profits following a multi-session rally.
48%. The risk-off environment weighed on technology and semiconductor stocks.
Meanwhile, Piper Sandler initiated coverage of Intel with a Neutral rating on Thursday. Intel’s decline follows a sharp rally earlier this week.
Richard set a $120 price forecast. 74.
See More: Top Momentum Stocks Technical Picture Remains MixedDespite Thursday’s decline, Intel remains well above its longer-term moving averages. 86.
79, signaling neutral momentum. Intel is also underperforming the broader technology sector.
