FBR Capital Markets Downgrades NVIDIA And AMD (NVDA, AMD)

FBR Capital Markets has downgraded shares of NVIDIA (NASDAQ: NVDA) and Advanced Micro Devices (NYSE: AMD). Both stocks have been downgraded from Outperform to Market Perform. FBR's new price target for NVDA is $10. AMD's price target goes to $11.00.

The analysts wrote, "with still-building downstream inventories and recent macro weakness finally filtering up to some chip suppliers (NVDA, LSI, MRVL?), we now take a more balanced view of the chip sector."

During today's trading session, NVDA has fallen 8.88% to $9.23 and AMD has lost 2.76% to $7.76.