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Intel Stock Tumbles On Sell Rating, AMD Stock Gets Upgrade

Investor's Business Daily
Intel Stock Tumbles On Sell Rating, AMD Stock Gets Upgrade

Investment bank Goldman Sachs on Friday downgraded chip giant Intel (INTC) to sell from neutral, while upgrading rival Advanced Micro Devices (AMD) to neutral from sell. Intel stock dropped on the news and AMD stock dipped a fraction. Goldman Sachs analyst Toshiya Hari lowered his rating on Intel on concerns about rising competition and declining profit margins. He cut his 12-month price target on Intel stock to 44 from 49. Hari raised his price target on AMD stock to 21 from 13.25. Intel stock fell 2.6% to 48.85 on the stock market today. It cut below its 200-day moving average, a key support level. It has been trading below its 50-day moving average since late June. AMD stock dipped 0.2% to