On Wednesday, AMD's stock price fell by more than 5%, and HSBC's research report lowered its investment rating from "Buy" to "Shareholding," with the Target Price significantly reduced to $110.

The report指出, increased competition from peers such as NVIDIA, Marvell, and Broadcom in the graphics processing unit market will put pressure on AMD; it also stated that AMD's AI GPU roadmap is less competitive than the bank's expectations. Therefore, the bank believes that AMD's growth momentum outside of AI will be dim.