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Monday, Jul 8
More on Evercore's downgrade of Intel (INTC -3.9%): Analyst Patrick Wang is worried about...
More on Evercore's downgrade of Intel (INTC -3.9%): Analyst Patrick Wang is worried about still-weakening PC trends, peaking chip prices, and the potential of Atom CPUs to cannibalize Core CPUs. Meanwhile, fellow Evercore analyst Rob Chira now expects PC sales to fall 10% Y/Y, worse than a prior 6%. Citi's Glen Yeung, who has cut his Q2 Intel revenue forecast to $12.61B from $12.9B (consensus is at $12.89B), says notebook production has been weak and Intel's back-end (assembly/test) supplier orders were flat to down 5% in Q2. (IDC on PC sales)