Zacks Investment Research downgraded shares of Intel Corporation, Inc (INTC) from OUTPERFORM to NEUTRAL on January 09, 2015, with a target price of $39.00.
Intel is one of the leading producers of microprocessors in the world. The company's third-quarter earnings exceeded the Zacks Consensus Estimate and forward guidance did not disappoint. Also, its leading position in PCs, strength in servers, growing position in software and IoT segments and headway in process technology are all positive indicators of its future growth. Though Intel's promise of success in the mobile segment is encouraging, this is likely to be mitigated by conservative spending by individuals and corporations, competition from ARM-based devices, and the impact of new product ramp-up costs. We are therefore downgrading Intel shares from Outperform rating to Neutral.
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