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The Ratings Game: AMD concerns aren’t limited to crypto and graphics pain

Analysts have concerns about several key elements of Advanced Micro Devices Inc.’s business after the chipmaker delivered a disappointing earnings report and outlook.

AMD shares AMD, -14.17% are off 13% in Thursday’s session following the results, which were released the prior afternoon. In earnings commentary, AMD executives discussed a graphics-chip glut owing to the end of the cryptocurrency boom, and some analysts are expecting more related pain in the segment. They also charge that AMD isn’t growing its server market share fast enough or appropriately capitalizing on PC weakness at Intel Corp.

“Results and guidance missed the Street significantly as ‘channel GPUs sales’ weighed,” wrote Susquehanna analyst Chris Rolland, who rates the stock at neutral and cut his price target to $19 from $22.

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