Intel Tumbles, Setting Up Worst Day Since 2008
This article is for subscribers only.
Intel shares tumbled on Friday, after the chipmaker cut its full-year revenue outlook, the latest sign that the 2019 rebound in semiconductor stocks may be overdone.
Analysts were cautious on the outlook, with both Citi and Bernstein writing that even the lowered view still seemed aggressive. That said, Intel did find some fans; Morgan Stanley and Nomura were among those that maintained positive views, seeing longer-term potential.