Intel: Wells Fargo cuts rating on weak demand, AMD threat
(CercleFinance.com) - Wells Fargo has downgraded Intel from "outperform" to "market perform" on Friday, as the share now reflects "more balanced risk/reward" according to the broker.
Weak demand data points for the semiconductor industry leave Wells Fargo to consider some downside risk to its estimates for the world's biggest maker of chips for personal computers and data centers.
In a note to clients, Wells Fargo also cites "increasingly visible AMD competition," with Intel's eternal rival well positioned to continue to gain PC CPU share through 2019.
Wells Fargo has a target price of 60 dollars for the Intel share.
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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.
Weak demand data points for the semiconductor industry leave Wells Fargo to consider some downside risk to its estimates for the world's biggest maker of chips for personal computers and data centers.
In a note to clients, Wells Fargo also cites "increasingly visible AMD competition," with Intel's eternal rival well positioned to continue to gain PC CPU share through 2019.
Wells Fargo has a target price of 60 dollars for the Intel share.
Copyright (c) 2019 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.