Intel Corporation (NASDAQ:INTC) reported that its board has promoted 3 corporate officers. Aicha S. Evans was promoted to senior vice president from corporate vice president. She is GM of the Communication and Devices Group and is accountable for leading wireless communications for all platforms of Intel. Evans is with Intel since 2006. She was elected as CVP in 2014, and is based in California.
Steven R. Rodgers was promoted to executive vice president from senior vice president. He is general counsel of company and leads Law and Policy Group. He joined company in 2000, and was elected SVP in 2015, and is based in California.
Leslie S. Culbertson has been promoted to SVP and director of human resources from CVP and director of finance. She joined Intel in 1979, and now will look after Intel’s human resource unit and policies.
From previous rating of Underweight, analyst Joseph Moore believes Intel’s 4Q2016 sound, however notes 2017 guidance may be regarded as disappointing. The analyst has raised the stock price target to $38 from $35. Intel continues to remain “Strong Buy” despite the looming threat of Zen.
As per a Forbes report, the company currently owns nearly 99% market stake in the data center processing chip industry. The report also mentions that Alphabet Inc (NASDAQ:GOOGL), which spent over of $12 billion in FY2015 on its cloud business unit, is procuring these high-end server chips in the scale of 300,000 per quarter.
Intel’s processing chips demand is high and result into the data center unit’s profit margin business of 40%. However, many tech shareholders are anticipating this high profit margin to diminish. Intel’s competitor Advanced Micro Devices has seemingly made remarkable progress with its Zen architecture whereas many experts consider Intel has shown stagnant growth. AMD’s Zen CPUs are expected to be competitive with company’s CPU products while lowering price by at least 20%.