AMD's stock tumbles after bearish analyst call, to pace broad sector weakness [MarketWatch]
Advanced Micro Devices, Inc. (AMD)
Last advanced micro devices, inc. earnings: 4/28 04:25 pm
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Source: MarketWatch
AMD's stock tumbles after bearish analyst call, to pace broad sector weakness Shares of Advanced Micro Devices Inc. AMD, -9.82% tumbled 7.3% in afternoon trade, enough to pace the decliners in the semiconductor sector, after bearish note on the company from New Street Research and recent downbeat reports on the sector. On Friday, New Street analyst Pierre Ferragu initiated coverage of AMD with a sell rating and stock price target of $18, which was 27% below current levels, saying he sees a "hard stop" in momentum around the corner. "Our detailed review of AMD's architecture and actual needs of the server and PC markets, combined with our analysis of competitive dynamics between Intel and AMD nevertheless suggest the party might be over soon," Ferragu wrote in a note to clients. AMD's stock was the biggest decliner in the PHLX Semiconductor Index SOX, -1.00% which fell 1.3% with 25 of 30 components losing ground. AMD's stock has plunged 20% so far this month, while the SOX has lo
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AMD
Earnings
- 1/30/24 - Beat
AMD
Sec Filings
- 3/25/24 - Form ARS
- 3/25/24 - Form DEFA14A
- 3/25/24 - Form DEF
- AMD's page on the SEC website