The chipmaker’s stock dipped $1.62 to $30.50 after reporting a solid quarter and outlook Tuesday.
The chipmaker’s stock dipped $1.62 to $30.50 after reporting a solid quarter and outlook Tuesday.
Morgan Stanley downgraded Intel on Wednesday, writing the declines in sales volume and selling prices, coupled with uncertainty about Intel’s nascent contract manufacturing business and its ability to compete in mobile technology, “suggests limited upside.” The firm gave Intel a hold rating, down from a buy.
Analysts are skeptical that the PC market’s revival can last, that Intel will be able to sustain its momentum in tablets when the company takes away manufacturer subsidies that helped it gain market share in tablets, and that the company will ever make meaningful progress in smartphones.
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