As Intel plunges, here’s what every major analyst had to say about its dismal report

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The Intel logo is displayed outside of the Intel headquarters in Santa Clara, Calif.

Rising competition weighed on analysts minds following Intel’s dismal report after the bell Thursday. Wall Street largely believes the company’s sales shortfall is an Intel-specific problem and they remain bullish on the semiconductor industry as a whole.

Shares were down 6 percent in premarket after the company also gave weak guidance and missed on revenue and didn’t seem any closer to naming a permanent CEO.

Jefferies noted that Intel is getting attacked on all sides, including by Nvidia in the data center market and AMD in PCs.

Some analysts like J.P. Morgan lowered their price targets, while Susquehanna went further saying, “In short, we are downgrading shares of Intel to neutral on DCG (datacenter group) deceleration, building competitive risks, narrowing process technology leadership, macro concerns, and what we believe is now fair value for a company potentially struggling to grow earnings in 2019.

Needham analyst Quinn Bolton also downgraded the stock as he recommended clients, “moving to the sidelines as we monitor data center spending for signs of a recovery.”

Here’s what some of the others think: