Intel stock falls, hitting a 52-week low

Intel shares are tumbling as the overall semiconductor sector is facing pressure on Monday afternoon.

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RACHELLE AKUFFO: We're back with our triple play, and we have Intel, Netflix, and AMC on deck. I'm kicking us off with Intel shares. We've seen them falling today more than 4%, as you can see, there are about 4 and 1/2 percent right now and weighing heavily on the Dow. Now fellow chip makers, NVIDIA and AMD also losing ground today, though not quite as badly as Intel.

This uncertainty about the aggressiveness of the Fed is really adding to the chipmaker's woes. Intel already missed estimates on both lines in their Q2 earnings, revised guidance downwards, lost market share, and also saw its free cash flow picture worsen. The stock is down more than 30% year to date.

Now this drop comes right in the middle of the annual Hot Chips conference that's taking place in Silicon Valley right now where Intel CEO, Pat Gelsinger is expected to announce details about its upcoming Meteor Lake chips, their new chips. Now Intel was expected to be one of the biggest beneficiaries, of course, of the recently signed Chips Act. But the fruits of that funding may not appear for years, and certainly not appearing right now in the stock price. Seana--

SEANA SMITH: They definitely are not, Rachelle. It's the worst performer in the Dow today, hitting a 52-week low. You mentioned that year to date move off just about 34%. You mentioned the fact that it's losing some ground here to some of its competitors, putting that in perspective. Since December 2012, Intel has had a total return of 119% versus a 784% total return by the Semiconductor Index. So certainly many of its peers, many of them smaller than Intel, have been gaining ground and have significantly been outperforming them over the last 10 years or so.