Intel faces 'uphill battle' as its stock hovers near record lows: Goldman Sachs analyst

Published On Sep 9, 2024, 6:36 PM

Intel is struggling to restore its competitiveness as its stock remains close to record lows. Goldman Sachs analyst Toshiya Hari describes Intel as having an 'uphill battle' against rivals like Nvidia, AMD, and Taiwan Semiconductor. Key issues include a significant drop in earnings and a need to improve its AI chip technology while facing tough market headwinds. Hari rates Intel a 'Sell,' predicting continued underperformance relative to competitors. Intel has also announced workforce cuts and suspended its long-standing dividend, introducing a major restructuring initiative led by CEO Pat Gelsinger, who is looking at strategic options such as potential IPOs and business sales.

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Stock Forecasts

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Negative

Given the current challenges and the bearish outlook from analysts, Intel (INTC) is positioned to continue struggling in the near term, especially in terms of stock performance relative to its competitors. With significant competitive pressure, missed earnings expectations, and a restructuring underway, Intel's stock is likely to remain under pressure.

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