What's Going On With Intel Stock?

Intel Corporation INTC shares are trading lower Tuesday. The stock has continued to trend downward since last Friday which was marked by weakness in semiconductor and chip stocks, as well as news that Taiwan Semiconductor Mfg. Co. Ltd. reportedly told its suppliers to postpone high-end chipmaking equipment delivery. Also, Intel held its Intel Innovation 2023 event on Tuesday.

What To Know: TSMC, a leading semiconductor foundry, cited demand uncertainty as its reason for the decision. The company plays a particular role in Intel's business functions, not only as a supplier, but also in providing assistance in specialized manufacturing processes and when Intel facilities cannot meet certain chip production demand. Intel's supply chain and production capabilities may be impacted by such a move.

On Tuesday, Intel introduced a range of technologies aimed at spreading artificial intelligence at Intel Innovation 2023. CEO Pat Gelsinger noted how AI is helping to drive the "Siliconomy," a "growing economy enabled by the magic of silicon and software."

Some of the features exhibited at the event included such things as new advances in silicon, packaging and multi-chiplet solutions.

Despite the recent pullback, Intel stock is up 41.87% year-to-date.

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INTC Price Action: Shares of INTC were down 1.86% at $37.29 at the time of publication, according to Benzinga Pro.

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