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For individuals who are not acquainted, next week will feature one of the most significant electronic extravaganzas globally: the Consumer Electronics Show (CES). This yearly celebration in Las Vegas showcases a variety of novel and thrilling gadgets. Chip manufacturer Intel (INTC) will participate, already gearing up to compete with its competitor Advanced Micro Devices (AMD). This has impressed investors, with Intel’s shares climbing nearly 2% during Friday’s afternoon trading session.
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Nonetheless, Intel will face serious competition as AMD’s offerings include not just the Strix Halo, but also the latest editions of the Ryzen 9000X3D processors. Additionally, there are rumors that Qualcomm (QCOM) might also showcase something at the major event; details about this remain sparse, but it’s a reasonable assumption they will have something to display at CES.
Increasing Popularity of AMD
Furthermore, a challenge for Intel is the trend of chip consumers increasingly gravitating towards AMD. A survey conducted by Steam, outlined in Tweaktown, indicated that AMD is “capturing buyers from Intel.” The study noted that AMD processors now comprise 38.73% of Steam’s PC market share. Considering that in October, AMD held only 33.77%, this should give Intel significant cause for concern.
The primary reason, according to the report, is Intel’s ongoing difficulties with desktop processors which are beginning to backfire on the company in a substantial way. The “erosion of trust” caused by malfunctioning processors, coupled with the very real risk of further issues emerging down the line, has resulted in users having diminished confidence in Intel hardware, leading to more cautious purchasing decisions.
Is Intel a Buy, Hold or Sell?
Turning our attention to Wall Street, analysts have assigned a Hold consensus rating on INTC stock, based on one Buy, 21 Holds, and five Sells issued over the past three months, as illustrated in the graphic below. Following a 55.46% decline in its share price over the past year, the average INTC price target of $24.53 per share signifies a 19.43% potential upside.
See more INTC analyst evaluations
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