Cloud, sluggish PC market chipping away at Intel’s value, analysts say
October 14, 2013
Grazed from BusinessCloud News. Author: Jonathan Brandon.
Despite the investments Intel has made in emerging datacentre technologies a research analyst with Macquarie Capital has lowered share price estimates ahead of its Q3 earnings report Tuesday, citing pressures in the PC market brought about in part by cloud computing.
A report penned by Deepon Nag, a research analyst with the financial advisory Macquarie Capital says that cloud computing will likely apply downward pressure to the global PC market, hindering Intel’s ability to grow in market segments that are traditionally strongholds for the chip manufacturer. The firm lowered its estimates from $25 to $22 per share and downgraded Intel from “Outperform” to “Neutral.”…
Nag says that the increasing popularity of cloud computing has created noticeable shifts in PC markets, where “connectivity is king” and cheaper devices are becoming “good enough” to handle the lion’s share of productivity tasks, which he says will put most people off buying premium machines…
Read more from the source @ http://www.businesscloudnews.com/2013/10/14/cloud-sluggish-pc-market-chipping-away-at-intels-value-analysts-say/