It looks like AMD (AMD +1.9%) is made of teflon this week. A day after skyrocketing due to (very questionable) Intel buyout rumors, shares are up in spite of a downgrade to Neutral from Macquarie's Shawn Webster. While upbeat about AMD's PS4/Xbox 720 wins and considering forecasts for its core CPU/GPU business too bearish, he thinks shares are fully valued. given they trade "above the mid-point" of AMD's historical earnings and book value multiple ranges. The downgrade comes as archrival Intel names COO Brian Krzanich its next CEO.