Intel Shares Are Moving Higher Monday: What's Going On?
Intel shares rose 5.56% to $21.06 on Monday amid reports of CEO Lip-Bu Tan's meeting with President Trump at the White House. This meeting follows Trump's call for Tan's resignation due to alleged ties to Chinese semiconductor companies. Tan claims he has the board's support and is addressing misinformation regarding his record. Intel has not commented on the meeting.
Intel Corporation INTC shares are trading higher Monday amid reports indicating CEO Lip-Bu Tan will meet with President Donald Trump.
What To Know: According to Bloomberg, the meeting is expected to take place Monday at the White House. It comes four days after Trump called for Tan's resignation in a Truth Social post, describing him as "highly CONFLICTED" and alleging ties to Chinese semiconductor companies with connections to the country's military.
The criticism followed a letter from Republican Senator Tom Cotton to Intel's board chairman seeking answers about Tan's business interests in China. Tan has said he has the full support of Intel's board and reached out to the White House to address what he described as "misinformation" about his record.
Intel did not immediately comment on the planned meeting.
INTC Price Action: At the time of writing, Intel stock is trading 5.56% higher at $21.06, according to data from Benzinga Pro.
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