Why Intel Stock Is Plummeting Today [Yahoo! Finance]
Intel Corporation (INTC)
Last intel corporation earnings: 4/23 04:07 pm
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Source: Yahoo! Finance
Intel's stock is feeling pressure from the ongoing trade war with China as well as a Reuters report today that revealed its new CEO has extensive business ties in the country, raising concerns of a potential conflict of interest. A report from Reuters revealed today that Intel CEO Lip-Bu Tan has extensive investment connections to Chinese companies. Some Chinese companies that Tan has invested in have ties to the Chinese military. The report outlined how Tan has made hundreds of investments in Chinese companies over decades through the investment firm Walden International, a venture he founded in 1987, as well as two Hong Kong-based holding companies, Sakarya Limited and Seine Limited. The most troubling investment, although one that Tan has now exited, was his seed investment in Semiconductor Manufacturing International Corp. (SMIC), China's largest chip foundry and major supplier of the Chinese military. The company is under sanction from the U.S. Walden International remains i
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