Intel (INTC) Stock: Why It Fell 1.4%

By Amit Chowdhry ● Sep 23, 2022
  • The stock price of Intel (INTC) fell by 1.4% in the most recent trading session. This is why.

The stock price of Intel (INTC) fell by 1.4% in the most recent trading session. 

Why: Bearish research report

Price target: Reduced from $35 to $30

Rating: Underperform reiterated

Analyst: BofA analyst Vivek Arya

Arya cut the estimates on both Intel and AMD in order to account for further deterioration in consumer PC demand and inventory excess. And Arya pointed out that Intel’s “Underperform” rating is based on the continued strategic and competitive challenges that the company faces like the reliance on the PC business.