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Intel's stock sinks after Goldman turns bearish, slashes price target


Shares of Intel Corp. INTC, -2.59% took a 3.1% dive in premarket trade Friday, after Goldman Sachs turned bearish on the semiconductor giant, citing competition and margin concerns. Analyst Toshiya Hari cut the rating to sell, after being at neutral for the past 2 1/2 years. Hari lowered the stock price target to $44, which is 12% below Thursday's closing price of $50.14, from $53. Hari said he believes Intel's struggles with 10 nanometer process technology will have ramifications in terms of its competitive position, across a broad set of products, which will affect Intel's ability to sustain margins and grow earnings. "While the 10nm push is well publicized at this point, we believe Intel's