Yet Another Analyst Sees Slowdown in PC Shipment Causing Headwind for Intel

Citi analyst Christopher Danely saw Intel Corp. experience some headwinds as PC shipments fell below Citi’s estimates.

Danely had a Neutral rating and a $55 price target on Intel (18.1 percent upside).

Danely observed that March notebook shipments were up 33 percent month-over-month, missing the targeted 42 percent growth.

For Q1, shipments fell 20 percent quarter-over-quarter, missing the 18 percent decline the bank was expecting.

Danely saw PC sales cool off in the second half of 2022 due to a reversion to the mean after two straight years of double-digit growth.

Any rebound was short-lived as the consumer market decelerated amid the Ukraine crisis, China’s Covid resurgence.

Truist recently slashed its price targets on the chipmakers for similar reasons.

By Anusuya Lahiri

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