Erste Downgrades AMD to Hold; Shares Down 1%, 30‑Day Loss 8% as Analyst Flags Slightly Negative EBIT and Rich P/E
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Erste Group analyst Hans Engel downgraded Advanced Micro Devices (AMD) from Buy to Hold, causing shares to drop 1% in early trading. Engel highlighted AMD's slightly negative EBIT margin and operating margins trailing the sector, labeling the stock's P/E ratio as high given its below-average return on equity. Despite a 30-day loss of over 8%, AMD shares remain 30% higher year-over-year. The downgrade emphasizes the need for clearer evidence of higher-margin growth amidst competitive pressures in the data-center GPU market.
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