This was the stock's third consecutive day of losses.

Nvidia (NVDA) was the big winner in the AI space during 2024 as it solidified its lead in GPUs, which led to a 185% stock rally. Meanwhile,

HSBC lowered its rating on Advanced Micro Devices stock amid several concerns including the chipmaker's ability to compete with Nvidia. Here's what to know.

We recently compiled a list of the 12 Best Technology Stocks to Invest In for the Long Term. In this article, we are going to take a look at where Advanced Micro Devices Inc. (NASDAQ:AMD) stands against the other technology stocks.

This was the stock's second consecutive day of losses.

Key Takeaways Advanced Micro Devices shares fell Wednesday after a double downgrade by analysts at HSBC to "reduce" from "buy."The firm cut its forecast for AMD's artificial intelligence chip revenue in 2025 and said an upcoming chip from the company is unlikely to compete with Nvidia's offerings.

Fintel reports that on January 8, 2025, HSBC downgraded their outlook for Advanced Micro Devices (NasdaqGS:AMD) from Buy to Reduce. Analyst Price Forecast Suggests 45.96% Upside As of December 23, 2024,