Shares of the chip maker opened below the key 200-day moving average on Monday amid fresh concerns on its leadership and competitive positioning. The stock is only 5% or so away from reaching bear market territory, or off about 20% since a June 1 record high hit weeks before the surprise resignation of Brian Krzanich as CEO due to inappropriate behavior.
Intel saw a fresh bout of selling Monday following a rating downgrade from Barclays analyst Blayne Curtis to hold from buy. The analyst had hopes Krzanich's replacement would be a "disruptive external candidate", but it now looks the short list of executives doesn't fit that mold.
Meanwhile, Jim Cramer's Action Alerts PLUS continues to be bullish on chip-marker Nvidia (NVDA - Get Report) . TheStreet reported recently Nvidia is poised to announce its next powerful graphics chip in just a few weeks.