Computer processor maker Intel Corporation (INTC) said Monday that it has canceled plans for a computer graphics chip due to development delays.
The delays, the company said, would make the product uncompetitive by the time it was brought to market. The graphics chip in question was to be based on Intel's Larrabee design, which, in essence, is a hybrid between a graphics processing unit (GPU) and a multi-core CPU.
The chip was originally slated to be released sometime in 2009 or 2010.
Intel shares slid 16 cents, or -0.8%, in premarket trading Monday.
The Bottom Line
Market watchers have been recommending shares of INTC since Aug.28, when the stock was trading at $19.47. The company has a dividend yield of 3.08%, based on Friday's closing stock price of $20.46.
Intel Corporation (INTC) is a "recommended" dividend stock, holding a Dividend.com DARS Rating of 3.5 out of 5 stars.
