Scalper1 News
The chips are down for Intel (INTC), at least according to some on Wall Street. RBC Capital Markets analyst Doug Freedman downgraded Intel stock to sector perform from outperform in a report Wednesday. He joins other firms with negative reports on the world’s No. 1 chipmaker following the company’s analyst day last week. Freedman also cut his price target on Intel stock to 26 from 27. Intel stock was up a fraction in afternoon trading on the stock market today, near 24. Freedman said the analyst day last Thursday was a disappointment because he was looking for a greater focus on return on investment and better execution on its ultra-mobile device strategy. Intel is using subsidies to enter the tablet and smartphone markets, and the return on investment there isn’t clear, he said. He estimates that Intel is spending more than $2 billion a year to get into those mobile… Scalper1 News
Scalper1 News