2 Big Reasons to Sell AMD Stock Before 2023
Shares of Advanced Micro Devices (NASDAQ: AMD) lost half their value in 2022 amid slowing demand for chips used in personal computers (PCs), and the chipmaker could be in for a difficult time in the new year as well.
Though Wall Street seems to be upbeat about AMD stock's prospects over the next year -- as evidenced by a median price target of $85 per share that points toward a 20% upside from current levels -- there are a couple of reasons why the stock may not be able to live up to analysts' expectations. Let's take a closer look at them.
According to Jon Peddie Research, AMD's share of the discrete graphics processing unit (GPU) market stood at 8% in the third quarter of 2022. That was a big drop from the prior-year period's market share of 17%.
Source Fool.com
