We are issuing an update on a dividend stock we had downgraded from our recommended list previously to a hold rating.
Intel Corp (INTC) – we would now use any rallies in the semiconductor giant to ring the register and take off any position you may still have in the stock. The company’s 4% plus dividend seems to be fine in the near term, but the company’s business revenue mix has darkened, and unless management can pivot at some point, the company’s relevance in tech land will continue to diminish. Throw in the fact the company’s long-time CEO is stepping down next May, we also have a transition issue to be concerned about. At this point, we believe investors should look elsewhere for income investment ideas.