HSBC analyst revises AMD stock price amid ‘less competitive' AI chip roadmap

At the time, the market was anticipating Advanced Micro Devices (NASDAQ: AMD) would mount a challenge against Nvidia (NASDAQ: NVDA) in artificial intelligence (AI) chips; an analyst is now cautioning that the firm might not have a competitive edge in the sector.Specifically, HSBC analyst Frank Lee, in an investor note on January 8, downgraded AMD from ‘Buy’ to ‘Reduce’ and slashed the price target from $200 to $110, citing a less competitive roadmap in the AI GPU market.The announcement comes after AMD’s st ...