Intel Faces ‘A Challenging Road’
Over at JPMorgan, analyst Harlan Sur predicts “a challenging road ahead” for Intel, according to a client memo.
The bank now ranks Intel as underweight.
Analysts at Cowen titled their client research memo this way: “Couldn’t really think of a title to describe that, but here’s the note anyway.”
And Stephanie Link, chief investment strategist and portfolio manager at Hightower Advisors, said on Twitter that Intel’s earnings are a result of “more than the industry’s cyclical downturn.”
She didn’t say what those additional factors might be, but industry observers are pointing fingers at Intel’s C-suite. They’re also calling for Intel to cut its dividend. The company a 36-cent cash dividend for each quarter last year. It has paid a dividend for each quarter since 2013. In the fourth quarter of 2022, dividends amounted to $1.5 billion.
