Intel: See, We're Not Dead! (INTC)

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.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

big tech intel sai-us