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According to Bloomberg, Intel (NASDAQ: INTC) has drastically lowered
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Its previously anticipated $50B valuation for Mobileye's upcoming initial public offering to $30B.
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The news source also mentioned that the share sale might be postponed,
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Citing insiders with knowledge of the procedure, and pointed out that the general stock market
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Downturn causes both the valuation decline and potential postponement.
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If semiconductor stocks recover, the IPO may still take place, but if they remain underperforming,
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It will be delayed, according to Bloomberg.
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Pic Credit: Google