AMD Stock Falls Nearly 3% In Thursday Pre-Market: What's Going On? - Intel (NASDAQ:INTC), Advanced Micro Devices (NASDAQ:AMD)
1. AMD stock dropped 3.48% after Jefferies downgraded its rating to Hold. 2. Jefferies reduced AMD's price target from $135 to $120, indicating downside risk. 3. Increased competition from Intel and Nvidia cited as downgrade reasons. 4. Tighter U.S. export controls may impact AMD revenue from China. 5. AMD's leadership acknowledges need for innovation amid semiconductor challenges.