Intel: Credit Suisse maintains 'outperform' after sell-off
(CercleFinance.com) - Credit Suisse maintains its "outperform" rating and 55-dollar target price on Intel after the stock fell 6% before Easter, reacting to a Bloomberg story which said that Apple may use internally developed chips for its computers as soon as 2020.
In a research report, the broker points out that there has been little incremental speculation on the case over the last 18-24 months, while acknowledging that the specificity of the article does lend "some credibility."
In the report, Credit Suisse writes that it has become clear that Apple is working on its chips but still sees yesterday's sell-off as an over-reaction as Apple only represents 7% of the PC market.
This over-reaction seems to be even greater as the broker expects that Intel will unveil strong quarterly earnings on 26 April.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a research report, the broker points out that there has been little incremental speculation on the case over the last 18-24 months, while acknowledging that the specificity of the article does lend "some credibility."
In the report, Credit Suisse writes that it has become clear that Apple is working on its chips but still sees yesterday's sell-off as an over-reaction as Apple only represents 7% of the PC market.
This over-reaction seems to be even greater as the broker expects that Intel will unveil strong quarterly earnings on 26 April.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.