World News – US – Intel shares downgraded to Bank of America: ‘No easy fix’ to manufacturing issues, analyst says


Intel Corp actions
are down 107% in Friday morning trading after the company released September quarter results that showed a larger drop in data center sales than analysts expected Bank of America analyst Merrill Lynch, Vivek Arya, downgraded the stock to underperform to neutral in the wake of the report, writing that there did not appear to be an « easy fix » to the company’s manufacturing problems as the company is also facing competitive challenges The report pointed out « no plan / update to address next-generation 7-nanometer manufacturing issues, with still low yields to current-generation 10-nanometer process, » Arya wrote. He is also concerned about « increasing competition from faster and more agile factory-less competitors such as Nvidia.
ARM suppliers and others « who have capitalized on the foundry ecosystem » We admire Intel’s historical position, breadth of portfolio, balance sheet / [free cash flow] and strategic manufacturing based in the United States  » , wrote Arya, but is concerned about « the uncertainty of executing the roadmap, » which he believes could hurt Intel’s high value share in the PC and center markets. data while pushing for profit growth He also questions whether Intel is « too big » to move to a factory-less model, as it « is not clear whether a foundry has the capacity available to manufacture the multiple [tens of billions of dollars] of Intel’s transistors, or the desire to help a competitor only for a short period of time while he improves his internal process and then leaves a fab empty « Arya lowered his price target on the stock at $ 45 against $ 60 The stock fell 20% at c bear of the past three months as the Dow Jones Industrial Average
of which Intel is a component, increased by 66%

Investors added $ 134 billion to Vanguard ETFs in the first nine months of the year But much of that money comes from its own mutual funds

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World News – US – Intel Shares Downgraded to Bank of America: « No Easy Fix « for manufacturing issues, analyst said



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