Tech stocks with strong exposure to the PC sector have been trending down and in many cases have declined to levels that many investors did not see coming. Just look at names like Hewlett Packard (HPQ), Dell (DELL) and Advanced Micro Devices (AMD). At many levels on the way down, it was easy to make a fundamental case for buying the stock, but that has not worked for many investors as these stocks remain near 52-week lows. There are a few reasons why Intel (INTC) shares might also have further downside, and because of that it might be too early to buy.
Here are a few points to consider: 1. Intel has some company-specific issues which could continue to put pressure on the stock. This includes the fact that CEO Paul Otellini recently announced that he plans to resign around May 2013. 2. Intel is also facing macro-economic and PC-industry challenges. The European debt crisis has pushed unemployment to record levels in countries like Spain, France and Portugal and there does not appear to be a quick-fix. 3. Wall Street analysts seem to be getting more bearish on the PC sector and Intel in particular. Analysts at Stern Agee just cut their price target for Intel shares to $18.
Source: Seeking Alpha
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Intel Shares Could Be Headed For $18, Or Less
Posted by D4L | Thursday, December 13, 2012 | ArticleLinks | 0 comments »________________________________________________________________
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