大行评级｜花旗：下调英特尔目标价至48美元，维持“中性”评级

Core Viewpoint - Intel's performance in the last quarter exceeded expectations, but internal supply constraints led to a decline in gross margin, resulting in first-quarter guidance falling below market expectations, which triggered a drop in the stock price [1] Group 1: Financial Performance - Intel's last quarter results were better than anticipated [1] - Gross margin declined due to internal supply limitations [1] - The first-quarter guidance is lower than market expectations [1] Group 2: Market Outlook - Strong demand for general-purpose server CPUs driven by AI could have led to sales surpassing seasonal performance if supply constraints were not an issue [1] - The target price for Intel has been reduced from $50 to $48, maintaining a "neutral" rating [1]