Trump Bragged About Intel Stock Gains. Now the U.S. Stake Has Lost $11 Billion

Intel (INTC) stock fell 29% on Friday after guiding below estimates, erasing about $11 billion from the U.S. government’s stake. The hit lands on a holding President Donald Trump has publicly credited with making America billions. Intel closed Friday at $65.76, according to TradingView. However, at an average cost of $20.47 per share, the government’s stake still shows a gain near $20 billion. Why Did Intel Stock Fall After Beating Estimates? CNBC reports it was Intel’s worst session since 1974, after a gain of about 150% this year. Still, the stock is up 74% year to date. Intel topped profit estimates for the quarter, yet sales landed slightly light and the fourth-quarter outlook disappointed. Weak personal computer (PC) demand and high memory chip prices dragged results.

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