Following yesterday's surge driven by news of Nvidia's $5 billion investment, Intel's stock price declined today—Citi downgraded its rating to "Sell." Citi warned that Intel's foundry business continues to struggle, and Nvidia's investment won't be enough to turn it around. While the bank raised its price target for Intel to $29, reflecting recent stock gains, with the current price around $30, this still implies a "Sell" rating. As a component of the S&P 500, Intel's shares fell 2.2%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments