Intel shares graded to ‘neutral’

New York: Intel Corp shares were downgraded to ‘neutral’ from ’overweight’ by JP Morgan Chase & Co analyst Christopher Danely, who said demand for computer chips will peak next month.

Advanced Micro Devices Inc, the world’s second-largest maker of microprocessors after Santa Clara, California-based Intel, was cut to ‘underweight’ from ’neutral’ by Danely, according to a research note.

Danely lowered his rating on the chip industry to ‘neutral’ from ’attractive,’ predicting that year-over-year industry sales growth will reach its high point for the present semiconductor demand cycle in April.