The road ahead for struggling Intel (INTC) is uncertain at best as its stock hovers near record lows.
Intel faces an “uphill battle” to turn itself around and compete with the likes of Nvidia (NVDA), AMD (AMD), and Taiwan Semiconductor (TSM), Goldman Sachs analyst Toshiya Hari told Yahoo Finance at the Goldman Sachs Communacopia & Technology Conference on Monday.
Hari rates shares of Intel as Sell. He thinks the company will need some time to get its technology —notably AI chips — on par with its better-performing rivals, if they can do it at all.
Goldman’s bearish take on Intel — while having Nvidia on its closely watched conviction buy list — comes at a precarious time for the company.
Intel widely missed second quarter analyst estimates on sales, gross profit margin, and earnings as it encountered more challenging market conditions and higher-than-expected costs to ramp AI…
