As market conditions become rough for technology companies Nimble Storage Inc (NYSE:NMBL) and Intel Corporation (NASDAQ:INTC), analysts from UBS weigh in on the stocks. Nimble Storage faces new emerging competitors yet offers a new All-Flash Array for which revenue might surge, and Intel appears to remain stable in spite of declining global PC demand. Here’s a quick breakdown of the developing situations through these analysts’ prisms.

Nimble Storage Inc

After Nimble Storage failed to shrink itself to become a small storage vendor, the company makes an attempt to retake the market with its all new All-Flash Array (AFA). However promising the product is, UBS analyst Steven Milunovich, anticipates new competition in the market which will present an obstacle for Nimble’s ambitions.

According to the analyst, Nimble still has growth potential. He states, “Looking into F17, we look for a reacceleration of growth due to some success in the enterprise and with the new all-flash array.” Although Milunovich is quick to point out that Nimble has been progressively losing market share in recent years to new competitors in the field, he contends, “The top five incumbent storage vendors accounted for 70% share in 2015, down from 73% in 2014 and 77% in 2013—new vendors are making progress.”

The analyst notes that the All-Flash market is flooded, and the AFA offered by Nimble appears to be cost-saving hybrid. The features in Nimble’s AFA might help reaccelerate growth, according to the analyst. Milunovich continues, “We believe AFAs will do well and that Nimble should see revenue growth accelerate from 25% in F17 to 30% in F18.”

Although the analyst sees growth potential for the company, increasing competition in the market leads him to reiterate a Neutral rating on the stock with a price target of $8.

According to TipRanks, Steven Milunovich has a 39% success rate, and delivers an average return per recommendation of 0.4%. In the past 3 months, another 10 analysts remained on the sidelines as well while 6 analysts gave NMBL a Buy rating. Overall the stock has a 12-month average price target of $10.02, marking a 29.46% upside.

Intel Corporation

As global weak PC demand presents a near-term risk for Intel in 2016, the company seems to adjust quite well in the face of this challenge and other market conditions, according to analyst Stephen Chin of UBS. The global PC demand and Intel’s struggling segments are of main concern to Chin.

In addition to reduced PC demand, Chin believes the company still has growth potential but it remains limited. He explains, “Our team’s checks suggest softer 1H16 PC demand given macro growth headwinds and FX volatility impacting affordability. We believe client PC processor sales could trend towards the lower end of expectations in 1H16 and the potential for demand upside is limited.” On another note, Chin points out the company’s chance for a surge of sales in the 4G LTE sector, commenting, “We believe Intel is positioned to win a 4G LTE modem socket in the iPhone in 2017 but our EPS sensitivity to winning 50% share is only $0.06 or 2% of its CY17 EPS.”

According to Chin, Intel’s other front, Data Center sales are decelerating. He notes, “Our sensitivity analysis suggests lower Data center sales growth of only 10% would impact EPS lower by another 5%.” He continues, “We view the Dalian NAND fab build-out and 3D XPoint memory as a long term opportunity but no volumes until 2H16.” Despite the anticipated hardships, Chin reiterates a Buy rating on Intel and lowers his 12-month price target from $36 to $35.

According to TipRanks, Stephen Chin has a 51% success rate and 6.7% average return per recommendation. Most analysts remain bullish on the chip giant has 21 recommend buying the stock, 3 recommend selling, and 7 are staying on the sidelines.