Oppenheimer is out with its report today on Advanced Micro Devices AMD, reiterating Underperform.
In its report, Oppenheimer writes, "AMD remains precariously positioned between two larger/stronger competitors in NVDA NVDA and INTC INTC and has lost ground near term related to these production issues. Given lack of balance sheet and valuation support (14x P/E vs. INTC's 9x), and poor execution, we reiterate our Underperform rating."
At the time of posting, shares of AMD were trading pre-market at $5.64, down 8.29% from Wednesday's close.
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