Why Is AMD Stock Trading Lower On Monday?

Anusuya Lahiri

June 10, 2024

Advanced Micro Devices Inc (NASDAQ:AMD) shares are trading lower after Morgan Stanley analyst Joseph Moore downgraded the stock from Overweight to Equal-Weight.

The analyst noted AMD’s high valuations, highlighting the impact of Blackwell’s launch on Nvidia Corp’s (NASDAQ:NVDA) competitors. AMD appears costly compared to other large-cap AI companies like Nvidia and Broadcom Inc (NASDAQ:AVGO).

Despite this, the analyst believes AMD’s product lineup will continue to gain market share in the client and server CPU markets.

Last week, TF International Securities analyst Ming-Chi Kuo indicated a lack of progress regarding AMD’s plans to tap Samsung Electronics Co to develop 3-nanometer chip processing technology.

The analyst said it would benefit AMD more from investing in Taiwan Semiconductor Manufacturing Co’s (NYSE:TSM) 2-nm products. According to the analyst, AMD and Samsung are currently discussing the use of 5-nm technology for AMD’s AI chip MI400 series.

AMD stock gained over 26% in the last 12 months. Investors can gain exposure to the stock via Invesco QQQ Trust, Series 1 (NASDAQ:QQQ) and SPDR S&P 500 (NYSE:SPY).

Price Action: AMD shares traded lower by 3.81% at $161.48 at the last check on Monday.

Photo by cebbi from Pixabay

Recommended

U.S. Loses to China in Shocking WAR GAMES - Ad

This Is How the AI Bull Market Ends - Ad

Could Elon Musk's New Device Save Us from A.I. Apocalypse? - Ad

Popular

Decoding Zuckerberg's Efficiency Mantra: A Wifi Password Speaks Volumes

Meta subtly hinted at CEO Mark Zuckerberg's ongoing commitment to efficiency with the WiFi password at a recent event.

Kennedy Campaign Rollercoaster: Wisconsin Supreme Court Keeps RFK Jr. On Swing State Ballot

Robert F. Kennedy Jr. will stay on Wisconsin's presidential ballot after a state Supreme Court ruling.

Is This Defi Coin Your Next "10-Bagger" Investment?

Is This Defi Coin Your Next "10-Bagger" Investment? - Ad

Our #1 pick in decentralized finance is largely overlooked by mainstream investors (for now). This governance token could skyrocket as DeFi adoption surges with the smart money and institutions.

Experts Slam Trump's 200% Tariff Threat To John Deere: 'You'll Find No Serious, Respected Trade Economists Thinking That This Is A Good Idea'

Ahead of the 2024 presidential election, former President Donald Trump has made headlines with his latest trade policy proposal, promising hefty tariff on John Deere

Mother Sells Taylor Swift Tickets Over Star's Endorsement Of Kamala Harris: 'I'm Gonna Shake It Off, And I'm Done With You'

A mother has chosen to sell the Taylor Swift concert tickets she had bought as a birthday present for her daughter in response to the pop star's recent endorsement of Kamala Harris.

America Can't Afford a Harris Presidency

America Can't Afford a Harris Presidency - Ad

New research from Jim Rickards - former advisor to the CIA - reveals shocking predictions about an "Election Meltdown" coming this November. Jim's showing all American patriots why an "Election Meltdown" could crash stocks by 50%, lead to the final demise of the dollar, even cause violent riots in the streets.

Huge payout expected for a rare coin bought by Ohio farm family and hidden for decades

TOLEDO, Ohio (AP) -- Three sisters from Ohio who inherited a dime kept in a bank vault for more than 40 years knew it had some value. But they had no idea just how much until just a few years ago.

Home Depot Agrees To $2M Settlement In Customer Overcharging Lawsuit

Home Depot has agreed to a settlement of almost $2 million to resolve allegations that it overcharged customers at checkout.

America's Secret New Currency (Buy Alert)

America's Secret New Currency (Buy Alert) - Ad

A new kind of money is coming to America. It's part of a huge shift quietly playing out in the financial system right now, with very little fanfare. It already has the backing of at least 470 banks, as well as the Federal Reserve and US Treasury.

Mark Zuckerberg Says He Is Done Apologizing, Reveals One Of The Biggest Mistakes Of His Career

Meta CEO Mark Zuckerberg says he has grown tired of taking on too much ownership of problems beyond his or his company's control.

Max Keiser Attacks Michael Saylor For Finding Fault With El Salvador's Bitcoin Strategy: 'You Owe Nayib Bukele An Apology'

Staunch Bitcoin (CRYPTO: BTC) advocate Max Keiser slammed MicroStrategy Inc. (NASDAQ:MSTR) co-founder Michael Saylor for casting aspersions on the Bitcoin strategy adopted

Financial Nightmare Coming After Election

Financial Nightmare Coming After Election - Ad

In 2018, one independent research predicted Kamala Harris was on her way to becoming the president of the United States. "Frankly, she scares us to death... and she should scare you," they wrote. Which is why you need to check out their newest Kamala prediction immediately.

Australian police infiltrate encrypted messaging app Ghost and arrest dozens

MELBOURNE, Australia (AP) — Australian police said Wednesday they have infiltrated , an encrypted global communications app developed for criminals, leading to dozens of arrests.

Before you sign up for a store credit card, know what you're getting into

NEW YORK (AP) — When Mykail James was 19 and working a holiday job at Victoria's Secret, she took out a store credit card with a $2,000 credit line.

Kamala Harris May Seize This Cutting-Edge Tech -- Act Now

Kamala Harris May Seize This Cutting-Edge Tech -- Act Now - Ad

A new technology (not AI) is powerful enough to save America $1.7 TRILLION in healthcare costs each year. Trump is rumored to use it personally... And Kamala Harris has threatened to have key patents on it seized. Whoever wins the election - it could cause a massive surge in demand... And send a tiny firm with key patents on this technology soaring. It's currently trading for only $7. But it likely won't stay this cheap for long.

Titan implosion hearing paints a picture of reckless greed and explorer passion

Witnesses testified that the company that operated an experimental deep-water submersible that imploded, killing five people, put profits over safety and ignored warning signs before the disaster. Several company officials, meanwhile, spoke of the explorer spirit and taking calculated risks to push humankind’s boundaries.

Tesla A Tale Of 2 Regions, Rivian Unleashes More Powerful R1 Variants, Nio Aims Sales Surge With Low-End Model And More: Biggest EV Stories Of The Week

The Fed rate cuts could bring some relief to the struggling EV industry, which is stymied by demand decline and severe cash crunch.

Prepare for President Kamala

Prepare for President Kamala - Ad

I won't be voting for her. Even so, I'm worried VP Kamala Harris could pull off a victory and become our next president. And it would be much worse than anything you might expect--especially when it comes to your money. Because likely WON'T get a second chance at recovering the money you stand to lose if she takes power.

Cards Against Humanity sues Elon Musk's SpaceX over alleged trespassing in Texas

The maker of the popular party game Cards Against Humanity is accusing Elon Musk’s SpaceX of trespassing on and damaging a plot of vacant land the company owns in Texas.

Mark Zuckerberg Flaunts Watches Valued at a Cybertruck's Price

Mark Zuckerberg, CEO of Meta, has been seen sporting luxury watches that rival the cost of a Tesla Cybertruck.

Sell This Stock Before Election Day

Sell This Stock Before Election Day - Ad

Since the AI investing trend kicked off last year, the line between U.S. politics and the U.S. stock market has never been thinner. One 50-year Wall Street is stepping forward to warn of a dramatic market event that could rock the U.S. stock market before Election Day.

While Elon Musk Backs Trump For The White House, His Teams At Tesla, X And SpaceX Are Supporting Kamala Harris: Employees Have Reportedly Donated Over $90K To Vice President's Campaign

The figures, though relatively small, highlight a political divide between Musk and his workforce.

Judge approves $600 million settlement in fiery Ohio derailment

A federal judge on Wednesday approved a $600 million class-action settlement Wednesday that Norfolk Southern railroad offered to everyone who lived within 20 miles (32 kilometers) of last year's n East Palestine, Ohio.

Buffett's Big A.I. Secret (Handle With Care)

Buffett's Big A.I. Secret (Handle With Care) - Ad

A.I. is the talk of the town...But here's what they're NOT telling you. Former investment banking V.P. Ross Givens is letting the cat out of the bag. He's leaking a revolutionary new development, which changes everything. It will kick off A.I.'s massive second wave.

Boeing makes a 'best and final offer' to striking union workers

Boeing said Monday it made a “best and final offer” to that includes bigger raises and larger bonuses than a proposed contract that was .

Shaquille O'Neal Reflects On Divorce, Fatherhood And Personal Accountability: 'I Was Lost. 76,000 Square Foot House By Yourself'

For many the topic of divorce and overcoming the great life obstacle can be tough. NBA legend Shaquille O'Neal shared his candid thoughts on the topic.

New Token Poised for Breakout as "Defi 2.0" Takes Off

New Token Poised for Breakout as "Defi 2.0" Takes Off - Ad

Revealed: The #1 DeFi Coin Driving Financial Revolution. Experts hail this as the cornerstone of the new decentralized finance era. While Bitcoin dominates headlines, this governance token is quietly reshaping lending markets. Experts suggest accumulating before institutional money flows in.

Utility ordered to pay $100 million for its role in Ohio bribery scheme

An energy company at the center of a $60 million bribery scheme in Ohio has been ordered by the U.S. Securities and Exchange Commission to pay a $100 million civil penalty for misleading investors about its role in the scandal.

Titan submersible testimony to enter fourth day after panel hears of malfunction and discord

Another mission specialist who worked with the company that owned the Titan last year while on its way to the Titanic wreckage is scheduled to testify before a U.S. Coast Guard investigatory panel Friday.

[Urgent] Starlink Set For The Largest IPO In History?

[Urgent] Starlink Set For The Largest IPO In History? - Ad

He turned PayPal from a tiny, off-the-radar startup... to a massive $64 billion giant. Then, he did it again with Tesla... which is up more than 19,500% since 2010. For perspective, that turns $100 invested into almost $20,000! And now, Elon could be set to do it for the third and final time... with what might be his biggest breakthrough yet. And for the first time ever, you have the rare chance to profit BEFORE the upcoming IPO.

What's Going On With Chinese Tech Stocks Like Alibaba, PDD On Thursday?

Alibaba and other Chinese tech stocks are up as US Fed plans to cut interest rates, boosting demand and potential for AI growth.

Why Intuitive Machines' Stock Is Blasting Off In Extended Trading

Intuitive Machines shares are blasting higher in extended trading Tuesday after the company announced it was awarded a NASA contract.

Don't Wait for FDA Approval

Don't Wait for FDA Approval - Ad

Biotech stocks are booming in 2024, but picking winners is tough--most drugs face a decade-long FDA approval process. However, a special FDA signal has led to stock spikes 97% of the time. Now, I believe one drug company is on the verge of getting this FDA signal.

SEC Approves Major Overhaul Of US Equity Markets, Largest Reform In Two Decades

The SEC unanimously votes to adopt new rules for pricing stocks under a penny, part of a larger market reform package. Changes aim to promote competition and reduce transaction costs.

One of Titan submersible owner's top officials to testify before the Coast Guard

One of the top officials with the company that owned the en route to the wreckage of the Titanic is scheduled to testify in front of the Coast Guard on Tuesday.

My No. 1 Biotech Play for 2024

My No. 1 Biotech Play for 2024 - Ad

Biotech stocks can be incredibly rewarding, but picking the right ones is nearly impossible without a PhD or insider knowledge. The FDA approval process is long and costly, and 9 out of 10 drugs never make it. However, a special FDA signal has led to stock spikes 97% of the time, regardless of approval.

Text of the policy statement the Federal Reserve released Wednesday

WASHINGTON (AP) — Below is the statement the Federal Reserve released Wednesday after its latest policy meeting ended:

Seeking to counter China, US awards $3 billion for EV battery production in 14 states

WASHINGTON (AP) — The Biden administration is awarding over $3 billion to U.S. companies to boost domestic production of advanced batteries and other materials used for electric vehicles, part of a continuing push to reduce China’s global dominance in battery production for EVs and other electronics.

Red-Hot AI Stock "Disappearing" Soon? (Get In Now)

Red-Hot AI Stock "Disappearing" Soon? (Get In Now) - Ad

Right now, there's an AI stock on the verge of being snapped up by a giant company... And when it does, its price could go flying. The potential gains could be astronomical. You want to get in before that happens... Otherwise the opportunity could pass you by. Your window to buy in is right now...

How small businesses can recover from break-ins and theft

Break-ins and thefts can happen at any small business, no matter how tight the security.

Trending Now