So much for the Intel downgrade by Credit Suisse First Boston barely a week ago. The brainiacs at CSFB downgraded the stock to underperform on November 24th citing lower demand. Tonight Intel pre-announced a blowout quarter citing higher demand.
So what happened? As usual the analysts' darts weren't hitting the bull's eye. Maybe they had a bad night at the casino, maybe they had some short positions to cover, or maybe they're just blabbering fools trying to create a stir.
However you cut it, they were wrong. And watch tomorrow when the "smart" analysts come out of the woodwork to upgrade the stock and feed on our perpetual fear and greed. But it's not all bad news. After all they're right 50% of the time, aren't they?