19 Trending AI Stocks on Latest Analyst Ratings and News

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16. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 75     

Intel Corporation (NASDAQ:INTC) markets key technologies for smart devices. Latest media reports indicate that Intel lost a contract to design and manufacture the processors for the upcoming Sony PlayStation 6 gaming console to rivals AMD and Taiwan Semiconductors. According to a report by news agency Reuters, the loss of the two contracts — AMD won the design contract while Taiwan Semi won the manufacturing portion — could have amounted to roughly $30 billion in revenue for Intel. Intel and Sony disagreed over profit terms during their negotiations in the chip deal.

Investment advisory Bernstein has a Market Perform rating on Intel Corporation (NASDAQ:INTC) stock and recently lowered the price target to $25 from $35. In an investor note, the advisory noted that the Q2 results of the firm were challenged and Q3 outlook was awful as the company saw the second half of 2024 recovery more muted than prior expectations amid weaker macro and some client inventory channel adjustments.

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