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Intel Corp. (INTC)
by Zacks Equity ResearchAugust 01, 2012 | Comments : 0 Recommended this article: (2)
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Intel also remains a laggard in the mobile segment, and although its situation could improve by virtue of its Ultrabook and agreement with Google, Intel has yet to prove itself here. In the meantime, competition from ARM-based devices continues to intensify.
Therefore, given the PC market weakness and the fact that mobile devices will continue to eat into its client business, we downgrade Intel shares from Neutral to Underperform. We are setting a target price of $24.00, which is 10.0X our earnings expectations for 2012.
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