Intel's 'historic collapse' erases $8 billion from market value

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Go back to Intel's 'historic collapse' erases $8 billion from market value

Analysts rush to cut Intel (INTC) price targets following weaker than expected Q1 guidance

January 27, 2023 9:08 AM EST

Intel's (NASDAQ: INTC) latest earnings report, in which it missed earnings, revenue, and guidance expectations, has pushed a number of Wall Street analysts to cut price targets on the stock.

Analysts at Northland, JPMorgan, Truist, Wells Fargo, BofA, UBS, and more cut their price targets on the stock, which is down more than 9%, following the earnings release.

Credit Suisse analyst Chris Caso lowered the firm's price target on Intel to $25 from $28, maintaining a Neutral rating. Caso told investors in his research note that the "magnitude of the cut implied in INTC 1Q... More