Tech Industry

Short Take: Analyst says Intel could fall to $60

Merrill Lynch semiconductor analyst Thomas Kurlak told clients that shares of Intel could fall to $60, according to CNBC. Kurlak had downgraded Intel to "long-term accumulate" from "buy" after the company reported weak first-quarter earnings. "Clearly, Intel is struggling and cannot seem to restart revenue growth despite aggressive price-cutting and new product introductions," Kurlak said in a research note.

Merrill Lynch semiconductor analyst Thomas Kurlak told clients that shares of Intel could fall to $60, according to CNBC. Kurlak had downgraded Intel to "long-term accumulate" from "buy" after the company reported weak first-quarter earnings. "Clearly, Intel is struggling and cannot seem to restart revenue growth despite aggressive price-cutting and new product introductions," Kurlak said in a research note.