Nvidia's investment ignites Intel's stock price, but Citigroup goes against the trend with a bearish outlook: Foundry lagging behind TSMC for years, benefits have been overstretched
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Citi downgraded Intel's rating from "Neutral" to "Sell," raising the target price from $24 to $29. Despite Intel's stock price rising 23% after Nvidia announced a $5 billion investment, Citi analysts believe Intel's performance improvement is limited, the market size is small, and the prospects for artificial intelligence products are poor. Analysts pointed out that Intel's foundry business lags behind TSMC, and investors may have already priced in the expectations of the stock price increase
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