AMD Stock Falls After Downgrade From BofA, Citing Risks From Competition
Key Takeaways
- Advanced Micro Devices shares lost ground Monday after Bank of America downgraded the stock and lowered its price target, warning of downside risks for the chipmaker in 2025.
- The bank dropped its rating to “neutral” from “buy” and lowered its price target to $155 from $180.
- The analysts said AMD faces rising competition for artificial intelligence (AI) chips from Nvidia, and a growing customer preference for cloud custom chips from Marvell Technology and Broadcom.
Shares of Advanced Micro Devices (AMD) fell Monday after Bank of America downgraded the stock and lowered its price target, warning of downside risks for the chipmaker in 2025.
The bank downgraded the stock to “neutral” from “buy,” and cut its price…
