Updated June 15, 2018 09:24:31Intel (INTC) shares were down almost 4% to $29.98 in premarket trading Friday, after losing 2.4% in pre-market trading on Thursday.
The stock was last trading above its $28 level in late-2017.
The news was met with cheers from investors, who had been worried that the chip maker would not find a path to profitability after its $2.5 billion buyout of chip maker ARM Holdings last year.
Investors are hoping that Intel’s chip and computer maker will be able to turn around the business, but with that in mind, Intel shares fell 1.7% to close at $27.55.
The shares were last trading in the $25 range.
The stock was up nearly 8% in 2017.
The Dow Jones Industrial Average closed down 19.21 points, or 0.8%, to 21,067.17.
The S&P 500 lost 2.7%.
The Nasdaq Composite index of stocks lost 1.83 points, to 4,097.63.
The Russell 2000 index of 500 companies fell 0.1%.