HSBC Downgrades AMD to Hold After 77% Rally: Is the AI Chip Trade Out of Steam?

HSBC downgraded Advanced Micro Devices to Hold from Buy on Monday, May 4, signaling a more cautious stance on the stock. The firm raised its price target slightly to $340 from $335, which softens but does not offset the negative implication of the rating cut. The update is likely to affect AMD sentiment more than broader market conditions.

Analysis

HSBC downgraded Advanced Micro Devices to Hold from Buy on Monday, May 4, signaling a more cautious stance on the stock. The firm raised its price target slightly to $340 from $335, which softens but does not offset the negative implication of the rating cut. The update is likely to affect AMD sentiment more than broader market conditions.