China Deals a Blow to Intel's Turnaround
China is making a concerted effort to lower its dependence on foreign technology. Chip giant (NASDAQ: INTC) is the latest U.S. tech company to find itself in the crosshairs.
Financial Times reported over the weekend that China had introduced new guidelines that will result in government PCs and servers powered by Intel or AMD processors being replaced with domestic alternatives. The Chinese government is also looking to cut out Microsoft Windows and foreign database software.
Separately, state-owned Chinese enterprises are also pushing to lower their dependence on foreign hardware and software. State-owned enterprises reportedly have until 2027 to complete the transition away from foreign technology.
Source Fool.com
Intel Corp. Stock
€79.53
-4.840%
Currently there is a rather positive sentiment for Intel Corp. with 47 Buy predictions and 25 Sell predictions.
However, we have a potential of -5.7% for Intel Corp. as the target price of 75 € is below the current price of 79.53 €.
