Why AMD Stock Is Sinking Today

AMD (NASDAQ: AMD) stock is losing ground in Wednesday's trading. The semiconductor company's share price was down 3.6% as of 11:45 a.m. ET and had been down as much as 5.2% earlier in the session.AMD stock is falling today on the heels of bearish coverage from HSBC. The firm issued a rare double downgrade for its rating on the stock and slashed its one-year price target.In a note published before the market opened this morning, HSBC downgraded its rating on AMD stock from buy to reduce. The firm's analysts also cut their one-year price target from $200 per share to $110 per share. As of this writing, the new price target suggests additional downside of 10%.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool