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☆ Gold's rally to records shows no signs of slowing
▼ + stars: | 2024-09-17 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Gold prices just won't stop rising. Year to date, gold is up nearly 26% — outpacing the S & P 500's 18% gain. Since ETF holdings only increase gradually as the Fed cuts, this upside is not yet fully priced in." Investors seeking exposure to gold can obtain it through exchange traded funds, such as the SPDR Gold Shares ETF (GLD) . The fund, which tracks gold prices and charges 0.4% in fees, is up nearly 25% in 2024.

Persons: Goldman Sachs, Lina Thomas, Thomas, Christopher Danely Organizations: Reserve, Goldman, Miners, Gold Miners, Citigroup, Micron Technology

☆ Analysts say don't chase this Intel pop here
▼ + stars: | 2024-09-17 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Wall Street analysts are still skeptical on Intel despite its latest moves aimed at righting the ship. Shares of Intel gained more than 3% on Tuesday after the chipmaker said it would turn its foundry business into an independent unit — allowing it to raise outside capital . The analyst added that Intel's plan to establish its foundry business as an independent subsidiary was "expected and not good." "We expect Intel's EPS to be under pressure given its foundry business, which we believe has minimal chance of succeeding," he wrote. Intel shares have lagged the broader semiconductor sector year to date, losing 56% in that time.

Persons: Bernstein, America's Vivek Arya, INTC, Christopher Danely, Intel's Organizations: Intel, Amazon, Bank of America, JPMorgan, Citi, Wells, America's, VanEck Semiconductor Locations: AVGO

Citi lowered its price target on Micron Technology ahead of earnings. The analyst downgraded the solar photovoltaic system stock to underperform from hold and lowered its price target to $17 per share from $27. The firm upgraded the biotechnology stock to buy from hold and raised its price target to $150 per share from $95. The firm initiated coverage of the personal computing and technology stock with an outperform rating and a $135 per share price target. "Shopify holds a significant advantage in the social ecommerce space, with its breadth of direct social media integrations that are crucial for social ecommerce," Ball added.

Persons: Jefferies downgrades SolarEdge Jefferies, Dushyant Ailani, Brian Evans, BioNTech Jefferies, Jefferies, BioNTech, Akash Tewari, Vijay Rakesh, DELL, — Brian Evans, Dominic Ball, Ball, Shopify, Christopher Danely, Danely, Fred Imbert, ~$ ( ~ $ ~$) Organizations: CNBC, Tuesday, Citi, Micron Technology, Jefferies, BNT327, Mizuho, Dell, Mizuho Securities, Micron, MU Locations: Europe, 2024E, China, Monday's

"The stock price has lagged but we don't see any other catalysts medium term, hence we are moving to the sidelines." Micron shares were down 5% in the premarket. The analyst reiterated a buy rating on Micron stock with a $175 per share price target, implying nearly 23% upside from Wednesday's $142.36 close. He raised his price target to $158 per share price from $138, calling for 11% upside. Arya maintained a buy rating on Micron stock with a $170 per share price target, or about 19% upside moving forward.

Persons: Vivek Juneja, — Brian Evans, TD Cowen, Cowen, John Blackledge, Keefe, David Konrad, Brian Evans, Christopher Danely, Goldman Sachs, Toshiya Hari, Hari, Vivek Arya, Arya, Caio Ribeiro, Ribeiro, Fred Imbert Organizations: CNBC, Micron Technology, Bank of America, Petrobras, JPMorgan downgrades U.S, Bancorp, JPMorgan, U.S . Bancorp, New York Mellon, Bank of New, Bank of New York Mellon, BK, Mellon, Micron, MU, Citi Locations: Brazil, U.S, Bank of New York, CY2025

☆ Wall Street analysts say this slide in Micron is a buying opportunity for AI play
▼ + stars: | 2024-06-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Investors should consider using the pullback in Micron Technology to snatch up shares, according to several Wall Street analysts. His $175 price target implies upside of more than 22% from Wednesday's close. Goldman Sachs analyst Toshiya Hari also viewed the drop as a buying opportunity, citing expectations for growth in AI compute and high-bandwidth memory market share gains. Hari has a price target of $158, signaling 11% upside over the next 12 months. MU 1D mountain Micron shares fall on in-line guidance Wells Fargo's Aaron Rakers reiterated his overweight rating and $190 price target, implying more than 33% upside.

Persons: Christopher Danely, Goldman Sachs, Toshiya Hari, Hari, Harlan Sur, Bernstein, Mark Li, Timothy Arcuri, Wells Fargo's Aaron Rakers, Vivek Arya Organizations: Micron Technology, MU, Micron, UBS, Bank of Locations: Wednesday's, CY25, ramping HBM

☆ Wednesday could be a big day for AI chip stocks as their market-leading rally stalls
▼ + stars: | 2024-06-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

MU YTD mountain Micron shares this year Nvidia's seemingly limitless rally stalled in recent sessions as investors took a break from semiconductor stocks. While it isn't a given that CEO Jensen Huang shows up at Nvidia's meeting, any commentary could provide an impetus for the stocks. Meeks noted that recent comments from Huang about AI chips during a trip to Asia spurred a bounce in shares. Comments could boost sentiment and convince investors the chip behemoth has yet to reach peak revenue, he added. Meeks called the selloff in chip stocks overdone, viewing a long-term runway for the AI theme at a reasonable valuation.

Persons: You've, Paul Meeks, Jensen Huang, Meeks, Huang, Meeks —, Harlan Sur, Christopher Danely, I'm Organizations: Nvidia, Micron Technology, Portfolio Management, MU, Micron, Broadcom, Qualcomm, JPMorgan, Citi Locations: Asia

Citi analyst Andrew Kaplowitz upgraded his rating for the heating and ventilation company to buy from neutral. The analyst accompanied the move by upping his price target to $74 from $65, implying that shares of Carrier Global could rally 17% going forward. The financial institution raised its price target for Nvidia to $150 from $135. Analyst Erin Wright stood by her overweight rating on the health insurance stock, reiterating her $595 price target. Wright set a price target of $374, which is 23% higher than the insurance company's Friday closing price of $355.48.

Persons: Goldman Sachs, Andrew Kaplowitz, CARR, Kaplowitz, — Lisa Kailai Han, Jefferies, Blayne Curtis, kingmaker, Curtis, Lisa Kailai Han, Morgan Stanley, UnitedHealth, Morgan Stanley's, Erin Wright, Wright, Bernstein, Stephen Reitman, Ferrari, Reitman, Ferrari's, Sanjeet Aujla, Aujla, BUD, Christopher Danely, Danely, James Schneider, Schneider, Fred Imbert Organizations: CNBC, Monday, Citi, Micron Technology, IBM, Carrier Global, Carrier, Nvidia, Humana, Ferrari, UBS, Anheuser, Busch InBev It's, Busch InBev, Micron, Citi Citi, Dow Jones Industrial, Dow Locations: China, UnitedHealth, U.S, Friday's

☆ Citi says this chip stock is still its top AI pick, will overcome Taiwan earthquake disruption
▼ + stars: | 2024-04-05 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Citigroup is keeping its bullish stance on Micron Technology even as the memory chipmaker faces disruptions caused by this week's earthquake in Taiwan. Semiconductor makers across the industry have been assessing the fallout from the 7.4 magnitude earthquake that rattled Taiwan, the strongest in a quarter of a century. The island is home to a flourishing chip market, including global chip supplier Taiwan Semiconductor Manufacturing , that many U.S. companies rely on. MU YTD mountain Shares this year "Investors remain concerned about the DRAM upturn due to overcapacity in 2025," he wrote. Danely's price target on Micron implies 21% upside from Thursday's close.

Persons: Christopher Danely, Danely Organizations: Citigroup, Micron Technology, Micron, Citi, Semiconductor, Taiwan Semiconductor Manufacturing, Danely, Nvidia, MU, Investors Locations: Taiwan . Boise , Idaho, Taiwan

☆ All eyes are on Nvidia this week, but another AI play is getting buzz before earnings
▼ + stars: | 2024-03-18 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Micron touts HBM3E as an essential component to move the needle forward on AI advancement, and so far, analysts agree. Mosesmann's buy rating and $140 per share price target represents 50% upside from Friday's close. The analyst maintains an outperform rating on Micron stock as well as a $120 per share price target, which equates to roughly 29% upside. The firm maintains a buy rating on Micron coupled with a $112 per share price target, more than 20% above the previous close. The analysts raised his price target to $150 from $95, calling for about 61% upside moving forward.

Persons: Rosenblatt, Hans Mosesmann, Mosesmann's, TD Cowen, Krish Sankar, Mehdi Hosseini, Citi's Christopher Danely, Danely Organizations: Micron Technology, Nvidia, GTC Conference, Micro, Analysts, Micron, MU, AMD

There's a host of stocks that can still benefit from the artificial intelligence craze besides Nvidia , according to analysts. As investors look for AI plays beyond Nvidia, CNBC Pro used FactSet data to screen for stocks in the technology and semiconductor space that should see significant earnings growth in the future. Analysts anticipate year-over-year earnings per share for 2024 will grow by 39.5% and advance by 48.7% in 2025. Management said on the company's earnings call that sequential growth is expected throughout 2024, with the second half of the year being stronger than the first. Other stocks that can expect to see huge earnings growth moving forward include Super Micro Computer , audio and imaging technologies developer Dolby Laboratories and Ultra Clean Holdings .

Persons: Jensen Huang, Christopher Danely, Evercore, Fabless chipmaker SiTime, It's, SiTime Organizations: Nvidia, Conference, Bank of America, CNBC Pro, Devices, Citi, AMD, Seagate Technology, Evercore ISI, Seagate, Management, Micro, Dolby Laboratories, Clean Holdings

UBS trimmed its price target on Tesla to $165 from $225, implying shares will hover around current levels for the foreseeable future. Nvidia shares have rallied more than 83% this year, building on 2024's nearly 239% gain as investors continue to bet on artificial intelligence. The firm holds an overweight rating on the stock, with its $820 price target implying about 11% downside from Wednesday's close. — Samantha Subin 5:38 a.m.: UBS trims Tesla price target, cites downside risks to deliveries UBS cut its price target on Tesla to $165 from $225 a share, citing slower electric vehicle demand in the U.S. and Europe, coupled with competition concerns in China. He also raised his price target to $68 from $55, which implies upside of 18% from Tuesday's close.

Persons: Goldman Sachs, Christopher Danely, Danely, — Samantha Subin, Joseph Spak, Spak, Wells, outperformance, Richard Ramsden, Ramsden, 2026E, Fred Imbert Organizations: CNBC, UBS, Citigroup, Citi, Nvidia, Devices, Broadcom, AMD, Micron Technology, Micron, NA Locations: U.S, Europe, China, Tuesday's

☆ These were February's biggest stock winners. Here's where analysts see them going next
▼ + stars: | 2024-02-29 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Here's a look at the top 20 stock gainers in the past month and where consensus analyst price targets imply they're heading next, based on the CNBC Pro Stock Screener tool. Chipmaker Nvidia notched a 24% gain in the past month, and analyst consensus price targets call for nearly 9% upside ahead. NVDA mountain 2024-02-01 Nvidia stock. Over the past month, the stock popped more than 41%. CEG mountain 2024-02-01 Constellation Energy stock.

Persons: Citi's Chris Danely, Meta, Meta's, Justin Post, Anthony Crowdell, Crowdell Organizations: Dow Jones, Constellation Energy, CNBC, Stock, Nvidia, AMD, Broadcom, Bank of America, Mizuho Securities, Treasury Locations: stoke

☆ Here is Eli Lilly's competitive edge in GLP-1 obesity drugs and Abbott's secondary play
▼ + stars: | 2024-02-29 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, Dow, Jim, Chris Danely, Cramer, Eaton, Eli Lilly, Lilly, Jim Cramer's Organizations: CNBC, Dow, Nasdaq, Semiconductor, Citi, Broadcom, Nvidia, Devices, Micron, Dell Technologies, Autodesk, Novo Nordisk, Abbott Laboratories, Novo, Viking, Jim Cramer's Charitable

Berenberg increased its price target on Eli Lilly on the back of expected strong sales of its weight loss drug, Zepbound. The firm kept its $21 price target, saying shares are "ready to inflect" with hardware cost deflation and investment tax credit boosting growth. Danely's $820 price target on the buy-rated blockbuster chipmaker suggests 3.6% potential upside for shares since Monday's close. — Pia Singh 5:38 a.m.: Berenberg hikes Eli Lilly price target Eli Lilly has been on a tear this year, and Berenberg expects even more gains from here. Analyst Kerry Holford reiterated his buy rating on the stock and raised his price target to $850 from $680.

Persons: Berenberg, Eli Lilly, John Hodulik, Hodulik, — Pia Singh, Wells, Steven Cahall, Cahall, ROKU, Fred Imbert, BofA Evercore, James West, Christopher Danely, Danely, Goldman Sachs, Edward Jones, James Shanahan, Goldman, Marcus, Apiro Dounls, Sunoco, Kerry Holford, Holford, Zepbound Organizations: CNBC, pharma, Nvidia, Citi, Sunoco, NuStar Energy, Netflix, UBS, Vizio, CTV, ISI, BofA, BofA Evercore ISI, Bank of America, Micron Technology, NuStar, SUN Locations: Wells, Sunrun, Monday's

The firm downgraded the cosmetics stock to hold from buy but maintained $530 per share price target. The firm maintained a neutral rating alongside a $13 per share price target, implying nearly 10% upside ahead. The firm is standing by an underperform rating on Robinhood stock with a $12 per share price target. HSBC downgraded the software stock to hold but maintained its $22 per share price target. First Solar shares have lagged in 2024, losing 11.6% amid concern that Federal Reserve rate cuts may not arrive until later than anticipated.

Persons: Ulta, Anthony Chukumba, Chukumba, Brian Evans, Christopher Danely, — Brian Evans, Robinhood's, Robinhood, LSEG, JPMorgan's Kenneth Worthington, Goldman Sachs, Will Nance, America's Craig Siegenthaler, Wells, Biogen, Mohit Bansal, Stephen Bersey, Christopher Dendrinos, Dendrinos, Fred Imbert Organizations: CNBC, U.S, Wednesday, RBC, HSBC, Palantir, Citi, Revenue, Bank, America's, Technologies, RBC Capital Markets, Enphase Energy, Shoals Technologies Locations: 2024e, Tuesday's, U.S

☆ Stocks making the biggest moves premarket: Qualcomm, Merck, General Motors and more
▼ + stars: | 2024-02-01 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

The stock is trading at a low multiple compared to spending, the firm highlighted as a key catalyst for investors. Nextracker — Shares of the solar technology company jumped 17% on bullish analyst notes following its strong quarterly results and guidance increase. Wolfspeed guided for fiscal third-quarter revenue of $185 million to $215 million, below the $224 million, LSEG estimate. Robinson reported 50 cents per share in adjusted earnings, while analysts expected 81 cents per share, per LSEG. The company reported $9.44 billion in revenue, while analysts surveyed by LSEG were looking for $9.70 billion.

Persons: Christopher Danely, Morgan Stanley, Nextracker, Wolfspeed, TD Cowen, ChargePoint, C.H, Robinson, Merck, company's, —, Alex Harring, Lisa Kailai Han, Tanaya Macheel, Jesse Pound, Michelle Fox Theobald Organizations: Qualcomm, Citi, General Motors, General, Barclays, Bank of America, Revenue, Merck, Japanese, Honeywell, LSEG, Norfolk Southern, Ancora Holdings, Wall Street Journal Locations: Norfolk Southern

Morgan Stanley raised its price target on General Motors. 6:56 a.m.: Morgan Stanley calls Bloom Energy a 'secular winner' Morgan Stanley reiterated its overweight rating on Bloom Energy , naming it an underappreciated AI beneficiary. The firm also maintained its $22 price target on shares, which suggests shares surging more than 94% from where they closed on Wednesday. — Hakyung Kim 6:14 a.m.: Morgan Stanley steps to the sidelines on ZoomInfo ZoomInfo Technologies is "unlikely to zoom into a recovery," according to Morgan Stanley. — Hakyung Kim 5:40 a.m.: Morgan Stanley raises GM price target A focus shift back to internal combustion engine vehicles can give General Motors another jolt higher, according to Morgan Stanley.

Persons: Morgan Stanley, Andrew Percoco, — Hakyung Kim, Antonio Reale, Reale, Hakyung Kim, Elizabeth Porter, Porter, Richard Choe, Choe, Jefferies, NYCB, Jon Arfstrom, Arfstrom, Christopher Danely, Danely, Bank of America's Tal Liani, Liani, Samik Chatterjee, Chatterjee, Adam Jonas, Jonas, — Fred Imbert Organizations: CNBC, General Motors, Qualcomm, Citi, Bloom, Bloom Energy, Bank of America, Santander Santander, Santander, ZoomInfo, JPMorgan, T, RBC, New York, Bancorp New, Bancorp New York Community, Bank, NYCB, Citi Citi, chipmaker Qualcomm, Samsung, Bank of America's, GM Locations: Spanish, Spain, Santander, Europe, U.S, Wednesday's, Bancorp New York

Analyst Oliver Chen also maintained his buy rating for Ulta stock, simultaneously lifting his price target to $580 from $570. Deutsche Bank: Reiterate buy rating and $450 price target, implying 10% upside. Kallo's price target of $300 implies that Tesla stock could rally more than 56% from its Tuesday closing price. Citi analyst Christopher Danely also stood by his buy rating on the stock while lifting his price target to $192 from $136. Analyst Jeffrey Adelson downgraded the company to underweight from equal weight and cut his price target to $6.50 from $7.

Persons: Morgan Stanley, TD Cowen, Ulta, Oliver Chen, ULTA, Chen, — Lisa Kailai Han, Goldman Sachs, Kash Rangan, Baird, Tesla, Ben Kallo, Elon Musk's, Toshiya Hari, Hari, Christopher Danely, Vivek Arya, Danely, Arya, Harlan Sur, Kannan Venkateshwar, Venkateshwar, Eric Sheridan, Sheridan, Justin Post, Ross Sandler, Sandler, Ronald Josey, Josey, Morgan Stanley downgrades, Jeffrey Adelson, Adelson, SOFI, SoFi, Fred Imbert Organizations: CNBC, Google, Microsoft, SoFi Technologies, Deutsche Bank, Citi, Barclays, Tesla, Devices, Wall Street, AMD, Bank of America, Barclays downgrades Verizon Barclays, Verizon, Venkateshwar, Bulls, Morgan Stanley downgrades SoFi Locations: Ulta

☆ Wall Street analysts are conflicted on AMD after its earnings
▼ + stars: | 2023-08-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

AMD may be nearing the end of its rally, according to some Wall Street analysts. Following the earnings report, Bank of America reiterated its neutral rating on the stock while lifting its price target by just $2 to $132. Although the firm raised its price target to $115 from $110, it still remains 2.2% below Tuesday's close. We also thought investors would eventually tire of the expensive valuation of AMD stock and we were wrong on that count as well. AMD shares gained 1.2% Wednesday during premarket trading.

Persons: Vivek Arya, Harlan Sur, Sur, Ross Seymore, Goldman Sachs, Toshiya Hari, Morgan Stanley, doesn't, Joseph Moore, Moore, Christopher Danely, Danely, —, Michael Bloom Organizations: AMD, Bank of America, JPMorgan, Deutsche Bank, Data, Citi Locations: 2H23

☆ Analysts see hope in Intel's earnings but remain wary of structural issues
▼ + stars: | 2023-07-28 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

"Good results," Citi analyst Christopher Danely said in a Friday note, "but structural issues remain." Citi reiterated a neutral rating and a $34 price target. Deutsche Bank, which described Intel's numbers as "more than marginal," maintained its Hold rating but increased its price target from $32 to $38, citing "abated" inventory challenges. Analysts increased Intel's price target from $30 to $35 and lauded the company's "better-than-expected results. He also said cloud companies were focusing more on securing graphics processors for AI instead of Intel's central processors.

Persons: Christopher Danely, Danely, Ross Seymore, Pat Gelsinger, Leswing, Michael Bloom Organizations: Intel, Wall Street, Citi, Nvidia, AMD, Deutsche Bank, JPMorgan

☆ Semiconductor space looks extraordinarily volatile, says Citi's Chris Danely
▼ + stars: | 2023-06-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSemiconductor space looks extraordinarily volatile, says Citi's Chris DanelyChris Danely, semiconductor analyst at Citi, joins 'The Exchange' to discuss over excitement in the semiconductor market, the scale of the chip stock surge, and the reasons behind Citi's naming Micron a top semiconductor pick.

Persons: Chris Danely Chris Danely Organizations: Citi, Micron

☆ Wall Street wants to see if AMD can rebound in 2 key businesses. But analysts disagree on how to play the stock
▼ + stars: | 2023-05-03 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Wall Street is focused on the potential for a bounce back within Advanced Micro Devices ' struggling personal computer and data center businesses. Arya's price target of $95 reflects the potential for an upside of 5.7% over Tuesday's close. Meanwhile, Citi's Christopher Danely said data center growth estimates for the second half seem aggressive. "We believe there could be more downside to AMD's data center business as AMD's data center revenue has only corrected 22% from its peak in 3Q22 while Intel's data center business has corrected 42%." Moore said the data center business was down 22% quarter over quarter, while PCs dropped 18% quarter over quarter and 65% year over year.

☆ Wall Street is looking at the positive side of Samsung’s 96% profit drop, production cuts. Here's why
▼ + stars: | 2023-04-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Samsung's plan to cut memory chip production signals a potentially sooner-than-expected recovery for the broader memory chip market, according to Wall Street. Investors seemed to laud the news, sending shares of Micron Technology and Western Digital up about 8% each on Monday. Citi analyst Christopher Danely called the news a "huge positive" for the dynamic random access memory, or DRAM, industry. But while the cuts from Samsung should help ease some pricing pressures, caveats persist, with Morgan Stanley's Joseph Moore expecting a "fairly muted" upturn from the production cuts and slow margin recovery even in 2024. "Investors are much more excited than industry contacts around this, given obvious green shoots implied from production cuts," he wrote.

☆ Citi sees chip stocks hitting 'new lows.' Here are its top picks to ride out the storm
▼ + stars: | 2023-03-07 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Although chip stocks have broadly rebounded this year , Citi warns that they could be about to hit new lows as companies trim guidance. Given this "defensive stance," the analyst said Analog Devices remains its top pick in this environment, describing it as the "most defensive name." Citi also named a few semiconductor stocks to consider once the dark times are over. Analog Devices, Micron, ON Semi and GlobalFoundries are all buy-rated by the bank. The bank gives Analog Devices, ON Semi, and GlobalFoundries each around 22% upside potential.

☆ 'Collapsing PC demand' keeps Intel, AMD rated only neutral, Citi says
▼ + stars: | 2022-10-10 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Tumbling demand for personal computers is hurting Intel and Advanced Micro Devices , with further declines on the horizon, Citigroup said. "We maintain our Neutral ratings on Intel and AMD as we believe there is more downside to the consensus estimates given collapsing PC demand," he said in a note to clients. Shipments of notebook computers were up 12% in September compared to the prior month – below Citi's expectation of 23%. Shipments were up 3% in the third quarter compared to the second, again coming in below Citi's forecast of 7%. But in some instances, including computers, demand is still higher than pre-pandemic.

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