🔴 Tower Semiconductor is trading 5% down in after-hours trading as Intel's weak forecast pressures chip stocks

Tower Semiconductor is trading at $178.49, down 5.02%, after-hours amid semiconductor-sector weakness linked to Intel’s disappointing fourth-quarter forecast.

• Intel’s forecast fell short of expectations, and its shares dropped sharply after the release.
• Wider technology-market concerns also weighed on chip stocks.
• No new company-specific announcement explaining Tower Semiconductor’s after-hours move was found. Its third-quarter results are scheduled for November 2, according to market data.