Signs of life for Intel shareholders? The company announced that it’s spending $7 billion over the next two years to upgrade its U.S. chip manufacturing factories. That’ll support 7,000 high-wage jobs in three states, according to the WSJ.
Like most tech stocks, Intel (INTC) shares have lost much of their value in the last six months — shares are still down 40% from last August.
Today’s announcement didn’t help much: Shares spiked up 3% in early morning trading, but settled down, and are now down about 1% on the day, trading around $14.77.