Intel (NASDAQ: INTC) stock is losing ground in Friday's trading. The semiconductor company's share price was down 4.6% as of 11:40 a.m. ET amid the backdrop of a 1.6% decline for the S&P 500 index and a 2% fall for the Nasdaq Composite index.

As a result, the stock finished the month down 17%, according to data from S&P Global Market Intelligence. As you can see from the chart, the stock plunged shortly after the CEO announcement, and stayed down from there, falling again after the Federal Reserve trimmed its rate-cut forecast for 2025.

Intel Corporation INTC has plunged 57.6% over the past year against the semiconductor industry’s growth of 117.9%, lagging its peers Advanced Micro Devices, Inc. AMD and NVIDIA Corporation NVDA. Much of this underperformance is perceived to be the fallout of severe financial difficulties and operational challenges.