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Advanced Micro Devices (NYSE:AMD) was downgraded by equities research analysts at Oppenheimer from a “market perform” rating to an “underperform” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports.

The analysts wrote, “We are downgrading shares of AMD from Perform to Underperform. Despite notable near-term strength in gaming console sales and signs of stabilization in the PC market, we believe structural challenges are mounting. AMD PC/graphics sales are likely to continue falling faster than PC units as INTC leverages its vast manufacturing/cost advantage to aggressively and profitably capture low-end share. Meanwhile, NVDA’s competitive graphics position remains as dominant as ever. GM are likely to structurally decline going forward as management chases low-margin gaming revenue while being forced to compete aggressively in the core PC segment. We are tweaking our sales estimates higher, but lowering our bottom-line assumptions. We see little valuation support and would be sellers here.”

Advanced Micro Devices (NYSE:AMD) last issued its quarterly earnings data on Thursday, October 17th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.02 by $0.02. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the company posted ($0.20) earnings per share. The company’s revenue for the quarter was up 15.1% on a year-over-year basis.

A number of other firms have also recently commented on AMD. Analysts at Zacks reiterated a “neutral” rating on shares of Advanced Micro Devices in a research note to investors on Thursday. They now have a $3.75 price target on the stock. Separately, analysts at Thomson Reuters/Verus downgraded shares of Advanced Micro Devices from a “buy” rating to a “hold” rating in a research note to investors on Monday, December 2nd. Finally, analysts at Sanford C. Bernstein downgraded shares of Advanced Micro Devices from a “market perform” rating to an “underperform” rating in a research note to investors on Tuesday, October 22nd. Eight research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $4.51.

Advanced Micro Devices, Inc (NYSE:AMD) is a global semiconductor company with facilities around the world.

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