On July 29, Intel fell 3.12% in after-hours trading, trading at $83.50/share, with turnover of $713 million, extending a prior session decline of over 7%.

The decline was driven by Intel's foundry business customer expansion falling short of expectations, intensifying competition in the AI compute chip market, and downstream cloud customers prioritizing specialized AI accelerators over general-purpose processors, which weighed on demand growth for traditional CPUs. Wedbush maintained its neutral rating, while Cantor Fitzgerald cut its target price to $125, both pointing to elevated capital expenditure as a constraint on valuation upside. Intel previously raised full-year capex guidance from $15 billion to $20 billion, with projections of approximately $30 billion next year, keeping adjusted free cash flow negative.

The broader semiconductor sector remained under pressure, with Micron Technology down 5.09%, NVIDIA down 0.76%, AMD down 2.12%, Broadcom down 1.03%, and TSMC down 1.35%, reflecting sector-wide selling that amplified individual stock pullbacks.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)