By George Glover
Intel stock was sliding early Wednesday, putting it at risk of snapping a five-day winning streak.
Shares in the chip maker fell 1.3% to $25.58 ahead of the opening bell. Futures tracking the benchmark S&P 500 were flat.
Before Wednesday, Intel stock had climbed for five straight sessions. It's up 25% since March 12, when the company said it would appoint former board member Lip-Bu Tan as its new CEO. The PHLX Semiconductor Index, which tracks shares in the biggest U.S. chip makers and designers, has climbed just 2.4% over the same period.
It's not clear what was weighing on Intel early Wednesday. Investors may be taking the opportunity to lock in profits after a spell of heady gains, or repositioning their portfolios ahead of the Federal Reserve's latest interest-rate decision.
Write to George Glover at george.glover@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 19, 2025 05:44 ET (09:44 GMT)
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