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Intel shares get downgraded by Evercore ISI due to rising competition from Nvidia, AMD

Tae Kim

Evercore ISI lowers its rating to in line from outperform for Intel shares, saying the search for the company's next CEO will add to investor uncertainty. Last month Intel announced the resignation of its CEO Brian Krzanich for his alleged infraction of the company's nonfraternization policy stemming from a consensual relationship. The firm's analyst also notes Intel’s problems in moving to its next-generation chip manufacturing technology versus its competitors.