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HSBC Cuts AMD Price Target but Keeps Buy Rating

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the 10 Best NASDAQ Stocks to Buy For Long Term. On September 9, HSBC reduced its price target for Advanced Micro Devices, Inc. (NASDAQ:AMD) from 200to200 to 185 while keeping a Buy rating. HSBC updated its estimate for the average selling price (ASP) of Advanced Micro Devices, Inc.’s (NASDAQ:AMD) MI355 chip. The firm now expects the ASP to be 23,000perunit,downfromthepreviousestimateof23,000 per unit, down from the previous estimate of 25,000. HSBC said this is “a more prudent assumption given dif ...