Intel Lands AI Partnership With Apple Supplier Foxconn. Why the Stock Is Falling. -- Barrons.com

Dow Jones06-04

By George Glover

Intel is teaming up with Apple supplier Foxconn to develop artificial-intelligence infrastructure -- but that wasn't enough to stop the chip manufacturer's stock from sliding on Thursday.

Shares dropped 3.8% to $108.41 ahead of the opening bell. Futures tracking the S&P 500 were 0.3% lower.

The selloff came after Intel and Foxconn, also known as Hon Hai Precision Industry, said they would collaborate to speed up the AI buildout.

"Together, we are accelerating the delivery of end-to-end platforms that unlock new capabilities and extend the impact of AI worldwide," Intel CEO Lip-Bu Tan said.

Intel shares have surged 205% already in 2026, powered higher by booming demand for the chip maker's central processing units.

The stock was dropping on Thursday as part of a broader tech selloff after rival chip maker Broadcom issued so-so revenue guidance.

Broadcom's third-quarter outlook narrowly topped analysts' expectations, but investors were hoping for a more substantial beat. That revived some worries about how fast AI demand will accelerate.

Intel stock closed 4.4% higher on Wednesday to snap a five-session losing streak. But those gains could be set to quickly vanish Thursday.

Write to George Glover at george.glover@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

June 04, 2026 06:42 ET (10:42 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Futures tracking the S&P 500 were 0.3% lower. \n\n\n  The selloff came after Intel and Foxconn, also known as Hon Hai Precision Industry, said they would collaborate to speed up the AI buildout. \n\n\n  \"Together, we are accelerating the delivery of end-to-end platforms that unlock new capabilities and extend the impact of AI worldwide,\" Intel CEO Lip-Bu Tan said. \n\n\n  Intel shares have surged 205% already in 2026, powered higher by booming demand for the chip maker's central processing units. \n\n\n  The stock was dropping on Thursday as part of a broader tech selloff after rival chip maker Broadcom issued so-so revenue guidance. \n\n\n  Broadcom's third-quarter outlook narrowly topped analysts' expectations, but investors were hoping for a more substantial beat. That revived some worries about how fast AI demand will accelerate. \n\n\n  Intel stock closed 4.4% higher on Wednesday to snap a five-session losing streak. But those gains could be set to quickly vanish Thursday. \n\n\n  Write to George Glover at george.glover@dowjones.com \n\n\n   This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 04, 2026 06:42 ET (10:42 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"corporation","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.0","shortVersion":"4.44.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2640151502","isCrawlerRequest":true}