Why Advanced Micro Devices (AMD) Slipped 11% on Friday

10:11 10/19/2018

As Advanced Micro Devices AMD  slowly began to recover from its 50-day moving average, an analyst came along and wrecked the party. Reportedly, New Street Research analyst Pierre Ferragu initiated coverage on the stock with a sell rating with a price target of $18. "AMD's stock price reflects a scenario we don't believe possible," Ferragu said. The company has scored some great wins in recent years but it "cannot win sustainably and beyond a niche positioning." He argues that Intel can easily bring an architecture similar to AMDs to market with better performance. However, others may not agree with the sentiment. In September 2018, Bank of America Merrill Lynch got much more bullish on the stock.

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