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How Disappointing Was Intel's Trading Action?

Intel trading action today: how disappointing? Intel, which was trading up 7 percent pre-open, opened at $22.06 and moved in a slow, straight line downward to close at $21.36 (up 1.6 percent) on huge volume—nearly 200 million shares, almost three times normal volume.

While many tech traders were clearly disappointed—"terrible," was a common remark, I heard "lousy" as well—traders forgot how much it has moved. "The stock has moved 11.5 percent in July," one trader noted. "As good as it gets."

Still, when you think of the glory days: "I think it screams "peak business," one trader said. "At one point in 2000, Intel's market capitalization was half a trillion dollars. Today, over a decade later it is worth approximately 20 percent of that amount and on pace for record numbers across the board."

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