After Intel released its second-quarter earnings last week, Bank of America Merrill Lynch, a well-known financial investment manager, downgraded Inel's stock from 'buy' to 'neutral'.
Merrill Lynch analysts said that Intel's big troubles remain unresolved, and its 10nm process needs to be postponed until the end of next year.
In contrast, Intel's factory-level rival TSMC has attracted NVIDIA, AMD, Xilinx and other orders to 7nm.
Bernstein analyst Stacy Rasgon also stressed that leaders in core technology face shuffling.
Merrill Lynch has lowered Intel's target price from $62 to $56. As of Friday (July 27), US stocks closed, Intel's share price fell to $47.68, and AMD rose to $18.94.
