Street View: Trade war, competition to pose challenges for Intel

Intel INTC.O forecast Q2 revenue and profit below Wall Street estimates on Thursday, casting a shadow over new CEO Lip-Bu Tan's first round of earnings at the helm, against the backdrop of a raging Sino-U.S. trade war

Shares of chipmaker down 5% in premarket trading

TACKLING TARIFF TIDES AND CHIP CONUNDRUMS

J.P.Morgan ("underweight," PT: $20) expects a more muted second-half seasonal profile, influenced by tariff and trade demand headwinds

Morgan Stanley ("equal weight," PT: $23) says co's focus on process technology hasn't solved product issues and suggests balancing efforts between technology and design, like TSMC 5425.TWO, to improve competitiveness

Evercore ISI ("in line," PT: $23) says "the new CEO has a lot of wood to chop, it looks like he has started off on the right foot, but we remain on the sidelines and could get more constructive with evidence of execution and improvement in market share"

Oppenheimer ("perform") sees continued server CPU share loss this year, with Intel Foundry Services (IFS) remaining unprofitable for the foreseeable future