BofA Downgrades Intel to Neutral Amid PC Slump and Delayed Turnaround
Yahoo Finance ·
On Friday, October 30, 2026, Bank of America downgraded Intel from Buy to Neutral and slashed its price target from $145 to $100, citing that a sharp drop in PC shipments and supply constraints have delayed the chipmaker's recovery. Although Intel reported third-quarter adjusted earnings of $0.52 per share on revenue of $16.5 billion, beating consensus, its fourth-quarter revenue outlook of $15 billion to $16 billion fell short of the $17.08 billion expected by analysts. The disappointing guidance sent the stock plunging more than 25% in premarket trading. Furthermore, BofA reduced its 2027 and 2028 earnings per share estimates by 16% and 4% to $1.69 and $2.79, respectively, while lowering its 2030 EPS power projection to $5 to $6.
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Bank of America (BofA) downgraded Intel (INTC) from Buy to Neutral and lowered its price target from $145 to $100. While Intel reported third-quarter revenue of $16.5 billion, beating expectations, its fourth-quarter revenue guidance of $15 billion to $16 billion fell significantly short of the market consensus of $17.08 billion. This sharp decline in PC shipments and turnaround delays caused by supply constraints were analyzed as the main drivers of the stock drop.
하락 영향
- Semiconductors — Investor sentiment across the global semiconductor sector has deteriorated due to Intel's Q4 guidance shock, a 25-30% plunge in PC shipments, and the rapid growth of competitors AMD and ARM.
DYAX 전담 분석
Intel expects Q4 PC shipments to plummet 25% to 30% quarter-over-quarter, and its dismal guidance caused the stock to plunge over 25% in pre-market trading. Combined with the steep growth of AMD and ARM-based competitors, earnings recovery momentum outside of data centers has significantly weakened.
While the bullish scenario involves the foundry business securing external customers and tangible results from the 18A-P process, concerns over a slowdown in performance due to sluggish PC demand and supply chain constraints remain dominant in the near term. Investors should closely monitor future inventory adjustment trends and the recovery of technological competitiveness against peers.
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DYAX Investor Sentiment
Bullish (Long) 33% · Bearish (Short) 67%
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