Goldman Upgrades Intel

It cites a move toward outsourcing at AMD.
Publish date:

Intel (INTC) - Get Report rose 2% early Friday after scoring a Goldman Sachs upgrade.

The firm upgraded the chip giant to buy from neutral, based on rival

Advanced Micro Devices'

(AMD) - Get Report

planned move toward outsourcing its business model.

"Capacity-driven cyclical downturns should be much more muted given that only one player would need to cut capital expenditure to fix excess supply," Goldman said, adding that the move could help Intel to "retain a sustainable product advantage."

Shares rose 42 cents to $23.65.