AMD stock dropped 5.4% due to Wall Street downgrade and concerns about soft PC demand

From Nasdaq: 2024-12-09 15:35:52

Shares of chipmaker Advanced Micro Devices (NASDAQ: AMD) dropped 5.4% on Monday due to a Wall Street analyst downgrade. Bank of America downgraded AMD to neutral from buy, citing soft PC demand and competition from Nvidia. The stock’s high valuation contributed to the harsh reaction to the downgrade.

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Analyst downgrades and concerns over soft PC demand have impacted AMD’s stock performance. With competition from Nvidia and the rise of cheaper in-house chips from major cloud providers, the future for AMD in the AI market may be uncertain. Investors should consider the risks and opportunities in the semiconductor industry.



Read more at Nasdaq: Why Advanced Micro Devices Plunged Today