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Intel Upgraded to Neutral

Analyst at Piper Jaffray upgraded Intel Corporation(NASDAQ:INTC) from underweight to neutral with a target price of $22. The basis of the upgrade is based on Piper Jaffray assumptions that “PCs are not going away anytime soon.” Intel is up 3% on the upgrade. The demise of PCs are not momentary but they are decaying at a rapid rate. As a matter of survival, the chip industry must focus on software development instead of PCs.

(Image source: hdwallpaperspc.blogspot.com)