Scalper1 News
Corporate personal computer sales are stabilizing and that’s boosting the prospects for PC chipmaker Intel (INTC), Citi Research said in a report Friday. Citi analyst Glen Yeung upgraded his rating on Intel stock to buy from neutral, based on his firm’s research showing improved corporate PC demand. That was one of two stock upgrades for Intel on Friday. Drexel Hamilton raised its rating on Intel to buy from hold. Intel stock was up 2.7%, near 25, in afternoon trading in the stock market today. The improved corporate PC demand provides a “more stable footing” for Intel, which has been knocked down by the PC sales slump the last two years, Yeung said. But consumer PC demand, particularly in emerging markets, remains weak, as buyers increasingly choose smartphones and tablets instead. Corporate buyers account for 49% of PC sales Yeung said. “We have recently concluded our regular field work… Scalper1 News
Scalper1 News