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Wall Street analysts see buying opportunities in the recent pullback of chip stocks. On Monday, Intel (INTC) stock rallied on a report from Pacific Crest Securities. Analyst Michael McConnell upgraded Intel stock to outperform from sector perform, with a price target of 31. Intel stock was up 1.8%, near 26.70. in early afternoon trading on the stock market today. McConnell turned positive on Intel (INTC) based on expectations for improving corporate PC demand this year and the company’s upcoming Grantley server chips, which could spur spending by IT customers in 2015. He also sees Intel’s nascent foundry business making market share gains in the long term vs. Taiwan Semiconductor Manufacturing (TSM), Samsung and GlobalFoundries. Conversations with supply chain companies suggest corporate PC orders accelerated in the first quarter and should continue into Q2, he said in a research report Monday. “Improving commercial demand has been attributed not only to Microsoft’s (MSFT)… Scalper1 News
Scalper1 News