US brokerage firm upgrades Intel rating, says PC market may be over

U.S. brokerage firm Northland Capital Markets today upgraded Intel's stock rating from "market perform" to "outperform" due to an improvement in the PC market outlook and the value of Intel's stock being highlighted due to recent oversold conditions.

Gus Richard, an analyst at Northland Capital Markets, maintained a $32 price target on Intel shares, 13% above Friday's closing price of $28.42.

Richard believes that Intel's PC business has ended its decline and the previously accumulated inventory has been cleared. Richard said that the completion of the acquisition of Altera is a positive catalyst, and it is expected that virtual reality technology will promote the development of Intel's PC business in 2017. The latest 3DXpoint storage technology may be the key to turning the situation around.

"While it is too early to say, Intel's recently announced 3D Xpoint memory technology could provide Intel with a significant advantage over its competitors," Richard wrote in an investor note. Intel shares fell 0.1% in premarket trading on Monday. The stock has fallen 18% in the past three months, while the Dow Jones Industrial Average has fallen 7.6% over the same period.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.