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Concerns Over Intel's PCs, Severs Lead To A $37 Price Target At Summit

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Worldwide PC shipments declined in C1Q16 to 64.8 million units, according to Gartner estimates, and to 60.6 million units as per IDC estimates. WR Hambrecht’s Srini Sundararajan maintained a Buy rating for Intel Corporation INTC 0.38%, while reducing the price target from $38 to $37.

Declining PC...