Tale of Two Downgrades: Intel Drops While AMD Rises Following Bearish Notes [TheStreet.com]
Intel Corporation (INTC)
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Source: TheStreet.com
Baird downgraded AMD to 'neutral' while Barclays downgraded Intel to 'underweight.' Tony Owusu Oct 1, 2018 3:40 PM EDT Analysts at two different firms took aim at the chip industry Monday, Oct. 1, but the targets are reacting completely differently in trading. Barclays analysts downgraded Intel Corp. ( INTC ) to underweight from equal weight while also reducing its price target to $38 from $53, sending the stock tumbling 1.44%. Meanwhile, analysts at Baird downgraded Advanced Micro Devices Inc. ( AMD ) to neutral from outperform, but the stock is proving resilient, rising nearly 3% Monday afternoon. Baird analyst Tristan Gerra sees weakness in AMD's graphic cards business for at least another two quarters, tempering some of the optimism that has surrounded the stock in the w
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