Truist lowered the firm’s price target on AMD (AMD) to $162 from $174 and keeps a Hold rating on the shares. The company’s Q1 result and Q2 guide were mixed, with Data Center and Client businesses doing better, but Embedded and Gaming doing worse, the analyst tells investors in a research note. Truist adds that its longer-term concerns for AMD remain as the company’s position in AI is likely “confined” relative to Nvidia (NVDA) and on expectations that the X86 market will slowly come under pressure from new CPU competitors.
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