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AMD Shares Slide After Barclays Downgrade

Published 03/31/2022, 09:50 AM
Updated 03/31/2022, 09:53 AM
© Reuters

By Sam Boughedda

Investing.com -- Advanced Micro Devices, Inc. (NASDAQ:AMD) shares have tumbled more on Thursday after a downgrade by Barclays.

Analyst Blayne Curtis downgraded AMD to Equal Weight from Overweight, lowering the price target to $115 from $148.

Curtis told investors in a note that the company's growth story "needs a pause" as cyclical risks loom in 2023. 

“AMD still looks positioned to gain share this year in both the client and server markets, and while we do see upside to the 31% growth target this year, where we have an issue is for 2023, as we see cyclical risk across several end markets," the analyst wrote.

Those end markets include PC, gaming, and broad-based, with the analyst stating that all three segments are "running at elevated levels,” which is a risk to the company's growth.

AMD shares are down 5% Thursday, adding to Wednesday's 3% loss.

Latest comments

amd. pay dividends to investors... stock jump 40 %
More and more people will buy computers in tbe next decade. Barclays *******..
Analyst Blaine Curtis. look at his portfolio, his projections are only 67%.🤣🤣🤣
computers are like cell phones. They grow out of date. What does a banker of company that just screwed up big time know about anything.
Barclays 🤡🤡🤡
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