Advanced Micro Devices (AMD) is experiencing a decline in its stock price today, primarily due to a downgrade from Bank of America. The financial institution lowered its rating on AMD to neutral, citing concerns over the company's future revenue from artificial intelligence and PC-related segments in 2025. This downgrade reflects the competitive pressures within the AI market, which has been a significant growth area for AMD. The news has led to a negative sentiment among investors, contributing to the stock's downward movement.
Additionally, the broader market is showing signs of struggle, with key technology stocks pulling back. The Nasdaq Composite and S&P 500 indices have both dipped slightly, adding to the pressure on AMD's stock. This market environment, combined with the specific downgrade, is weighing heavily on AMD's performance today.
AMD's stock is currently trading at $126.20, down 3.37% from its previous close of $130.60, and has fallen 3.88% from its opening price of $131.30.