AMD -2.4% on new Sell rating

|By:, SA News Editor

New Street Research initiates AMD (NASDAQ:AMD) at Sell with an $18 price target, a 32% downside to yesterday’s close.

AMD has gone on a wild ride in recent months as the company first looked poised to benefit from Intel’s 10nm delay but then fell when Intel and a research firm suggested a speedier timeline.  

AMD shares are down 2.4% to $25.97. Shares have dropped 14.7% in the past month but are up 61.3% in the quarter and 159% YTD.  

Previously: AMD -4.5% on Intel's 10nm supply update (Sept. 28)

Previously: Intel gains, AMD plunges as analyst predicts faster 10nm ramp (Oct. 2)

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