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December 06, 2013 AT 5:41 AM
Shares of chip maker Intel jumped nearly 2.5% in pre-market trading after receiving a favorable upgrade from an analyst at Citi. The Associated Press reports Intel's stock was boosted from "Neutral" to "Buy" by Citi's Glen Yeung, saying the company's guidance for PC shipments could finish better than expected despite the market's continued decline. The stock has held steady for most of the year, hovering around the $20-$25 range. According to 2017 estimates, tablet shipments will reach 386 million, a sharp jump compared to the 221.3 million forecast for this year.