Intel (INTC) Falls 7% from Record High as Traders Book Profits

Core Viewpoint - Intel Corporation (NASDAQ: INTC) experienced a significant decline of 7.45% to close at $40.50, following a two-day rally, as investors engaged in profit-taking after reaching a record high [1][2]. Group 1: Stock Performance - Intel's stock fell by as much as 8.3% during intra-day trading, indicating volatility and investor caution [1]. - The decline was attributed to profit-taking by investors after a recent surge in stock price [1][2]. Group 2: Market Developments - Reports emerged suggesting that Intel may supply chips to Apple Inc. for its lowest-end M-series chips within the next two years, which had previously led to increased investor interest [2][3]. - Analyst Ming-Chi Kuo noted that visibility on Intel becoming an advanced-node supplier to Apple has improved significantly, indicating potential future collaboration [3]. Group 3: Future Outlook - Intel is scheduled to participate in the Barclays Global Technology Conference on December 10, where investors will look for insights on business developments and potential deals with other technology companies [4].