AMD shares experienced a decline on January 14th following a significant price target reduction by KeyBanc. The investment firm lowered its price target for AMD from $220 to $150, citing concerns over the broader semiconductor market. This adjustment reflects a more cautious outlook on the sector, which has been facing headwinds due to supply chain disruptions and fluctuating demand. The semiconductor industry has been under pressure, and KeyBanc's revised target suggests a recalibration of expectations for AMD's growth prospects in the near term.
The impact of KeyBanc's decision was felt across the semiconductor sector, contributing to a broader decline in stock prices. Analysts have been closely monitoring the industry's performance, and any adjustments in price targets can significantly influence investor sentiment. The revised target indicates a more conservative approach, aligning with the current challenges faced by semiconductor companies.
AMD's stock closed at $116.09, down 1.05% from its previous close of $117.32 on January 13th. The stock experienced a high of $118.66 and a low of $114.5 during the trading session.