Inflation Data and the Tech Rout
The stock had rallied more than 300% over the past year before this drop, making it especially sensitive to any shift in the macroeconomic outlook. The inflation report reduced the odds of near-term rate cuts, which typically benefit growth-oriented stocks. Investors rotated out of tech, and Intel took a hit along with the rest of the sector.
Cramer's Morning Call
On the morning of July 15, financial commentator Jim Cramer called Intel his favorite stock. By the end of the day, the stock was
