Goldman Sachs Is Bearish On Intel Ahead of Q3 - Here's Why
Portfolio Pulse from Anusuya Lahiri
Goldman Sachs analyst Toshiya Hari reiterated a Sell rating on Intel Corp (NASDAQ:INTC) with a price target of $28. Hari updated the earnings model and discussed critical debates with investors ahead of Intel's Q3 2023 earnings release. Despite recognizing Intel's improving PC and enterprise server demand, improved execution, and potential benefits from cost optimization initiatives, Hari remained Sell-rated on the stock. He reduced FY23, FY24, and FY25 non-GAAP gross margins and EPS estimates due to stronger headwinds from the ramp of new products on new process technologies.
October 16, 2023 | 6:55 pm
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Goldman Sachs analyst Toshiya Hari reiterated a Sell rating on Intel Corp (NASDAQ:INTC) with a price target of $28. He reduced FY23, FY24, and FY25 non-GAAP gross margins and EPS estimates due to stronger headwinds from the ramp of new products on new process technologies.
The analyst from Goldman Sachs has reiterated a Sell rating on Intel, indicating a bearish outlook for the company. This is due to the expected stronger headwinds from the ramp of new products on new process technologies, which has led to a reduction in the non-GAAP gross margins and EPS estimates for FY23, FY24, and FY25. This could potentially lead to a decrease in the stock price in the short term.
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