Intel Buys Back Apollo's Stake in Fab 34 Plant
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Intels acquisition of Apollos stake in Fab thirty-four plant in Ireland for $14.2 billion, securing full control of the advanced processor plant, boosted shares by 3.6% in the morning, settling at $49.28, a 2.3% gain from the previous close. Despite the positive reaction, traders view the move as solid but not groundbreaking, considering Intels volatile stock performance in the past year. Year-to-date, the stock has risen 25.1%, but its still 9.3% below its 52-week high. Over five years, a $1000 investment has dropped to around $740, suggesting that full control could potentially stabilize the companys future.
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