Analysts Are Downgrading These 5 Stocks

2. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 89

Bernstein slashed its ratings for Advanced Micro Devices, Inc. (NASDAQ:AMD) from “Outperform” to “Market Perform” on Tuesday, January 24. Analyst Stacy Rasgon was primarily moved by a deteriorating PC environment.

Rasgon thinks fading PC demand could hurt AMD’s profitability. The analyst also cut his price target for Advanced Micro Devices, Inc. (NASDAQ:AMD) from $95 per share to $80 per share. AMD stock slid over two percent on January 24 following the downgrade. However, the stock is still up about 15 percent on a year-to-date basis.

Follow Advanced Micro Devices Inc (NASDAQ:AMD)