Intel Sinks 6% as Profit Taking Hits a Parabolic Run; NVIDIA and AMD Retreat 3%

Intel Sinks 6% as Profit Taking Hits a Parabolic Run; NVIDIA and AMD Retreat 3%

After a 188% year-to-date surge, Intel is suddenly retreating hard on a Thursday that turned risk-off fast, and NVIDIA and AMD are getting dragged down with it. Here is what is driving the selloff and whether the weakness signals a broader chip sector crack.

Intel Stock Drops 5.6%—Why $100 Is the Real Test After Its $20 Billion Raise

Intel shares closed Thursday at $100.32, down 5.57%, as investors tested how much of the chipmaker’s capital-raising and strategic-partnership rally can be justified by operating results. The stock touched $99.34 and traded 96.4 million shares. There was no new Intel filing or company announcement explaining the reversal, so the move looks more like a valuation…

Why Intel stock is sinking around 6% on Thursday

Intel stock fell on Thursday, putting the shares on track to end a five-session winning streak after gaining more than 20% during the run. The INTC stock was down around 6% to trade near the $100 mark. The sharp reversal came as the broader market moved lower amid a renewed surge in oil prices and concerns that higher inflation could keep interest rates elevated. The Dow Jones Industrial Average fell 195 points, or 0.4%, while the S&P 500 declin…