Intel (INTC, Financial) may have posted solid results, but Wall Street agrees on one thing: the road to recovery won't be quick. That was the key takeaway after the chipmaker's latest report and guidance.

Shares fell over 7% in premarket trading after the update. Rival AMD (AMD, Financial) also dipped, but only about 1%.

Morgan Stanley's Joseph Moore stuck with his Equal-Weight rating but lowered his price target from $25 to $23. He said Intel's new CEO, Lip-Bu Tan, has only been in the role for five weeks and is already tackling deep-rooted problems. In a note to clients, Moore said the CEO's focus on fixing execution, reviving innovation, and reconnecting with foundry customers won't yield instant results — and that's okay.

“March came in better than expected thanks to data center strength,” Moore noted, “but PC sales were soft, just like Intel warned in January.” He also said the company's Q2 guidance, while light, shows smart caution given all the market uncertainty.

Patient Tech Investor's Mark Mansius called the results steady, but said the weak guidance speaks to just how unsettled the environment is right now. He's keeping an eye on 18A chip tech as the real driver for Intel's future.

Wells Fargo's Aaron Rakers echoed the cautious tone. He sees Intel as a “prove-it” story — one that still has upside, but also a lot to prove. He trimmed his estimates for the next few years but noted that the lowered outlook may take some pressure off the stock.

Evercore's Mark Lipacis said Tan made a solid first impression, pointing out that turning a company as big as Intel is like steering a battleship — it's not going to happen overnight. Still, he liked Tan's focus on cutting red tape and shifting to a customer-first approach.

Jefferies analyst Blayne Curtis added that Tan's initial moves show he's trying to reset expectations, but it'll take time for his long-term strategy to take shape. For now, he's watching from the sidelines.