Downgrades of Intel keep coming as its latest quarterly results showcase its ongoing struggles. Vivek Arya and Duksan Jang, analysts at BofA Securities, say in a research note that the chip-maker’s IDM structure isn’t equipped to simultaneously compete against rivals including Nvidia, Advanced Micro Devices and Taiwan Semiconductor Manufacturing. They also list a lack of competitive AI accelerators that continues to reduce relevance to critical cloud customers and the suspension of its dividend that could make its stock less attractive to some investors. The analysts lower their price objective to $23 from $35 and downgrade their rating to “underperform” from “neutral.”