Shares of Intel Corp (NASDAQ:INTC) tanked in early trading on Friday, after the company on Thursday reported disappointing earnings for the second quarter.
Here are some key analyst takeaways.
- BofA Securities analyst Vivek Arya reiterated a Neutral rating and price target of $25.
- Rosenblatt Securities analyst Kevin Cassidy reaffirmed a Sell rating and price target of $14.
- Benchmark analyst Cody Acree maintained a Hold rating on the stock.
- Needham analyst Quinn Bolton reiterated a Hold rating.
Check out other analyst stock ratings.
BofA Securities: Intel delivered a sales beat, but this was “more due to conservative expectations setting around tariffs,” Arya said in a note. The company is facing stiff competition from Advanced Micro Devices Inc (NASDAQ:AMD) and Arm Holdings PLC (NASDAQ:ARM) and lacks an AI pipeline, while its manufacturing business is capex-intensive, he commented.
Management guided to third-quarter sales of $13.1 billion, $500 million above consensus, the analyst stated. He added, however, that the gross margin outlook of 36% came in …