Benchmark upgrades Intel, says investors should get constructive on chip stock after earnings

  • 📰 CNBC
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

Intel beat on the top and bottom lines in its first quarter, and also posted its largest-ever quarterly loss.

Intel is a buy now that the worst is priced into the chip stock, Benchmark said. Analyst Cody Acree upgraded the semiconductor firm to buy from hold, saying that investors should get more "constructive" on the stock after its better-than-expected earnings results. Intel beat on the top and bottom lines in its first quarter. It also posted its largest-ever quarterly loss , as well as its fifth straight quarter of falling sales.

mountain Intel shares 1-day "[We] believe the company's results and outlook now reflect a worst case scenario considering the current macro-economic climate and accordingly we believe it is prudent to begin to take a more positive stance on Intel's shares," Acree said to clients in a Friday note.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Intel tops Wall Street estimates, CEO says data-center business is improvingIntel Corp. shares began to surge in the extended session Thursday swinging from an earlier loss.
Source: MarketWatch - 🏆 3. / 97 Read more »