Why Intel (INTC) Stock Is Down Today

NEW YORK (TheStreet) -- Intel (INTC) was falling 0.3% to $34.04 Friday after announcing it will invest up to $1.5 billion in a Chinese mobile venture.

The chipmaker will invest up to $1.5 billion in Tsinghua Holdings, which owns of Spreadtrum and RDA Microelectronics, giving it a 20% stake in the holding company. The companies will work together to "expand the product offerings and adoption for Intel-based mobile devices in China and worldwide by jointly developing Intel Architecture and communications-based solutions for mobile phones."

Intel said it will work with Spreadtrum to create new system-on-a-chip processors using its chip architecture for mobile phones. Those chips will be available in the second half of 2015.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreet Ratings team rates INTEL CORP as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:

"We rate INTEL CORP (INTC) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and reasonable valuation levels. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

If you liked this article you might like

Google's Waymo Teams With Intel on Self Driving Technology

Buying Nvidia Now Is Like Getting Intel Way Back in 1993, Jim Cramer Says

Amazon, Google and Other U.S. Tech Giants Face a Battle Over Taxes With Europe

S&P 500 and Dow on Track for Records With Markets in Good Mood Ahead of Fed

Cramer: Nvidia Is More Than Just a Pet Name