Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Intel Falls As Atlantic Downgrades, Cutting Target By Almost A Third 

Published 05/10/2021, 11:53 AM
Updated 05/10/2021, 11:54 AM
© Reuters.
By Dhirendra Tripathi 
 
Investing.com – Intel (NASDAQ:INTC) fell more than 2% in Monday's trade following a downgrade by Atlantic Equities, which now has a price target of $43 for the stock. 
 
Before his downgrade to underweight from neutral, Ianjit Bhatti had a target of $63 for Intel shares. The new target is 31.7% lower and still almost 24% lower from the stock's current level of $56.45. 
 
". . .we do not believe IDM 2.0 provides an answer to market share losses to AMD. In addition, Q1 results reflected accelerating CPU market share declines, with cost competition from Intel not having been effective to date and its customer relationships no longer a barrier to adoption," Bhatti wrote in his note. 
 
IDM 2.0 refers to a major evolution of Intel’s integrated device manufacturing model, a powerful combination of the company's internal factory network, third-party capacity and new Intel foundry services. 
 
Intel is investing $20 billion in setting up two plants in Arizona and has plans for new research collaboration with IBM (NYSE:IBM). 

 

Latest comments

Someone should tell this genius that Intel is up 17% YTD and AMD is down 21% YTD.  And if he is so Bearish, is he short the stock and does he also own Puts?
Someone should ask this genius why Intel is up 16% YTD and AMD is down 21% YTD. And, if he is so Bearish, is he short Intel and owns Puts and if not, why not?
First the guy says "Buy, it's going to $63."  Then, a few months later, "Sell, it's going to $43." In other words: "I have no clue, but keep buying and selling, we need the commi$$ion$."
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.