A Slowdown in the Crypto Trend Has Some Analysts Bearish on AMD

Of the 29 analysts monitoring AMD, 11 and 13 have “buy” and “hold” recommendations on the stock, respectively, while five, including Morgan Stanley and Bernstein, have “sell” recommendations. According to a MarketWatch article, Morgan Stanley analyst Joseph Moore retained an “underperform” rating on AMD but raised the stock’s price target from $8 to $11, representing a downside of 29% from its current trading price. Moore acknowledged AMD’s opportunity in the server CPU space but stated that revenue gains in this market would not be able to offset cryptocurrency losses in the intermediate term.