Intel stock fell 2% after an analyst downgrade

Intel (INTC.US) stock fell more than 2% after Atlantic Equities cut rating on the microprocessor giant to Underweight from neutral. Analysts from Atlantic believe that Intel’s plan to expand its manufacturing base wouldn’t help it fend off rival Advanced Micro Devices. Also rumors that Intel Alder Lake desktop CPUs might not be arriving as soon as first thought also weighed on investors sentiment. According to Wccftech, Intel has recently confirmed to partners that new processors will be launched in November this year and not as previously planned in September.

Intel (INTC.US) stock fell sharply during today's session and is approaching the lower limit of the descending channel. Source: xStation5

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