Intel stock slides toward lowest close in more than 16 months

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Intel Corp. shares are off 2.7% in Wednesday trading and on track for their lowest close in more than 16 months on a down day for the market and as Intel’s stock faces continued pressure over competitive challenges. The stock recently changed hands at $44.45, and it’s on pace for its lowest close since June 3, 2019, when the stock finished the session at $43.46. Intel shares are down for the fourth straight day and they’ve lost more than 17% in that span. The company reported better-than-expected revenue and earnings last week but still faces questions about its technological roadmap after it disclosed earlier in the year that it expects its next generation of chips to be delayed. Rival Advanced Micro Devices Inc. posted results Tuesday morning that suggested the company could be gaining share at Intel’s expense. Intel shares have declined 10% over the past three months as the Dow Jones Industrial Average has risen 1%
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