Advanced Micro Devices (AMD) is experiencing a decline in its stock price pre-market on December 17, 2024, following a report from Wolfe Research that projects AMD's AI revenue to fall $3 billion short of expectations in 2025. This forecast has likely raised concerns among investors about the company's growth prospects in the competitive AI sector, which is a significant area of focus for AMD and its competitors.
Additionally, Intel's recent announcement of its second-generation graphics cards, aimed at the midrange market, has added pressure on AMD. The new Intel graphics cards, particularly the B580, have received positive reviews for their performance and pricing, potentially challenging AMD's position in the graphics card market. With Intel making strides in improving its software and hardware offerings, AMD faces increased competition, which could impact its market share and pricing strategies.
AMD's stock is currently trading at $124.10, down 2.04% from its previous close of $126.69. The stock has seen a low of $123.12 and a high of $127.76 in pre-market trading.