On Wednesday, the day before Intel unveiled its new tablet chip, Craig Ellis, an analyst with investment bank Caris & Co., issued a reassessment of Intel, lowering his earnings estimate and stock price target.

Ellis wrote that he made the reassessment because the growing interest in tablets is hurting the PC market and Intel more than he had expected.

Patrick Moorhead, an analyst with Moor Insights & Strategy, said he's not surprised that Intel would be reassessed despite coming out with a tablet chip this week. The company may be working a foot in the door in the tablet market, but it still has to compete with 's wildly popular .

Since the iPad, which uses Apple's , dominates the tablet market, a smaller percentage of the market remains for Intel's products.

However, by combining Intel's Atom Z2760 chip and Windows 8, more consumers may be lured toward a non-Apple tablet, Moorhead said.