AMD Stock Slumps After Double Downgrade by HSBC on AI Revenue Concerns

Key TakeawaysAdvanced Micro Devices shares fell Wednesday after a double downgrade by analysts at HSBC to "reduce" from "buy."The firm cut its forecast for AMD's artificial intelligence chip revenue in 2025 and said an upcoming chip from the company is unlikely to compete with Nvidia's offerings.AMD shares have lost about a quarter of their value over the past three months, and HSBC analysts said they believe "there remains further downside." Advanced Micro Devices (AMD) shares tumbled Wednesday after HSBC ...