Image Source: Pexels

Intel (INTC) is the has-been of the semiconductor sector. As such, the profligate U.S. government decided to shower them with goodies, and last night, following their earnings report, the stock exploded higher. It stayed high all night long and yet, several hours into the next trading day, they are actually down.

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Part of it, or all of it, probably has to do with the fact that the accounting is completely fishy. As far as I know, they’re counting the government’s investment as revenue. Anything to do with this administration shouldn’t be trusted, especially when they’ve taken a stake in another party.

The longer-term chart still shows the truth: Intel is a dog, and it has achieved nothing more through all this wasted government largesse than yet another lower high.

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