Top analyst: Intel to rally on possible iPhone win

Article Link: Top analyst: Intel to rally on possible iPhone win

Editor’s note: TipRanks is a tech company that ranks analysts and financial bloggers based on their picks’ performance. The goal of this piece is to highlight an analyst who has a great track record, rather than the ones from the biggest firms.

One of Wall Street’s best analysts says investors should buy Intel as it potentially diversifies into being a larger supplier for Apple’s iPhone and as it grows its data center business.

John Pitzer of Credit Suisse has a 14.7 percent one-year average return on his stock recommendations with a 63 percent success rate, according to TipRanks. He is ranked in the top 3 percent of all Wall Street analysts for his stock-picking acumen.

The downfall of the PC is a hurdle for semiconductor companies. Recent data highlighting weak PC sales are a source of worry for many, but Pitzer reiterates a “buy” rating on Intel with a $40 price target as he points to catalysts that could drive shares higher.

Here’s why:



Source: CNN Investing