TECH - Goldman Sachs Is Bearish On Intel Ahead of Q3 - Here's Why | Benzinga
Goldman Sachs analyst Toshiya Hari reiterated a Sell rating on Intel Corp (NASDAQ: INTC) with a price target of $28.
Ahead of Intel's 3Q23 EPS release scheduled for October 26, Hari updated the earnings model (i.e., reduced out-year gross margins and EPS) and discussed critical debates that have come up in recent conversations with investors.
While he recognized the improving PC and stabilizing enterprise server demand backdrop, the company's improved execution (i.e., on-time process technology and product ramps), and potential benefits associated with ongoing cost ...