Romit Shah did his pre-Intel event reiteration and indicated that Apple and Intel may not be able to work a foundry agreement. Romit's assessment: "this can't be good". Romit's target has been $18 and I have not seen him drop it. Covello is the only analyst below $18 that I know of.
Nothing yet from Covello and his $16 target. He might be waiting for Haswell and its "apparent success" to back track on his low target.
"A rumored deal between Intel (NASDAQ: INTC) and Apple (Nasdaq: AAPL) is "less certain," according Nomura analyst Romit Shah. Information cited by Nomura claims the two sides may have disagreements over price."
"While speculation about Intel-Apple partnership remains ongoing, our research suggests that a deal has recently become less certain," said Shah. "While we have not gotten a definitive explanation why negotiations with Intel could have stalled, we believe cost could be a key factor. Our understanding is that Samsung could be pricing wafers 20-30% below Intel. As such, we see TSMC (NYSE: TSM) manufacturing Apple's A7/A7X chips in 2013 and 2014 and Samsung at this point on track to manufacture Apple's A8x chips in 2015."
Nomura Securities has a Reduce rating on Intel with a price target of $18.00.