Why Both Intel and AMD Stocks Dropped Today
The Nasdaq is back in positive territory as of 1:05 p.m. Monday. Big semiconductor stocks Intel (NASDAQ: INTC) and Advanced Micro Devices (NASDAQ: AMD), however, are still in a funk -- down 3% and 3.1%, respectively.
I blame Raymond James for this.
This morning, the investment bank attempted to give Intel and AMD a compliment, raising its price targets on the stocks by about 10% apiece -- Intel to $33 a share, and AMD to $115 -- and reiterating an outperform rating on the former and a strong buy on the latter, as StreetInsider reports.
Source Fool.com
