Melius Research downgraded AMD (AMD) to Hold from Buy with a price target of $129, down from $160. The downgrade is not due to DeepSeek, rather a more cautious on x86 server and PC as well over the long-term for AMD, the analyst tells investors in a research note. The firm thinks Nvidia (NVDA) is going to increasingly “come for” AMD in both markets with its Arm-based central processing units that are optimized for accelerated PCs. Also, Melius is increasingly concerned that custom CPUs and Nvidia CPUs will cannibalize even more of the x86 server market long-term even though AMD’s current chip, Turin, is doing well.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMD:
- DeepSeek Creates Panic and Hits Tech Stocks, But This Too Shall Pass
- Baird says buy Nvidia and AMD on the DeepSeek selloff
- DeepSeek Shockwaves Turn Market Dip Into Tech Stock Treasure Hunt
- ‘Buy When Others Are Fearful,’ Says Investor About AMD Stock
- Intel (NASDAQ:INTC) Shuffles Funding Plans, Shares Fall
Questions or Comments about the article? Write to editor@tipranks.com