Market Overview

UPDATE: FBR Capital Markets Downgrades Advanced Micro Devices to Market Perform on Cash, Margin Concerns

Related AMD
Advanced Micro Devices Performing Well With New CEO At The Helm
12 Biggest Mid-Day Losers For Friday
AMD: Zen Server Ahead Of Schedule, 2017 Revenue Ramp-Up Continues Unabated (Seeking Alpha)

FBR Capital Markets reduced its rating on Advanced Micro Devices (NYSE: AMD) from Outperform to Market Perform and reduced its price target from $5 to $3.

FBR Capital Markets noted, "We are throwing in the towel on AMD and are downgrading shares to Market Perform. While we know PC sales are suffering from weak macro demand (including China and Europe), a complete absence of any back-to-school goodness, tablet/smartphone cannibalization, and a production/sales "air pocket" before the Win8 launch, we now have less confidence in go-forward cash burn given rapidly declining ASPs and management's new refusal to provide gross margin guidance. Thus, we worry about the magnitude of intended pricing cuts and gross margin impacts as AMD's cash bleed could intensify."

Advanced Micro Devices closed at $2.62 on Thursday.

Latest Ratings for AMD

Oct 2016OppenheimerUpgradesUnderweightPerform
Oct 2016Credit SuisseUpgradesUnderperformNeutral
Sep 2016SusquehannaInitiates Coverage onNeutral

View More Analyst Ratings for AMD
View the Latest Analyst Ratings

Posted-In: FBR Capital MarketsAnalyst Color Downgrades Intraday Update Analyst Ratings


Related Articles (AMD)

View Comments and Join the Discussion!