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Supermicro (AMD.US) previously fell by 5% after HSBC Research significantly cut the Target Price and downgraded its rating.
On Wednesday, AMD's stock price fell more than 5% after HSBC downgraded its investment rating from "Buy" to "Shareholding," with a drastic reduction in the Target Price to $110. The report indicated that competition for graphics processing units from peers like NVIDIA, Marvell, and Broadcom is intensifying, putting pressure on AMD; it also stated that the competitiveness of its AI GPU roadmap is lower than the bank had anticipated. Therefore, the bank believes that AMD's development momentum outside of AI will be sluggish.
Mega-cap AMD, J&J Lead Market Cap Stock Movers on Wednesday
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U.S. stock market early session | All three major Indexes fell, most Growth Tech stocks weakened, NVIDIA and Microsoft rose nearly 1% against the trend, while AMD dropped over 4%.
On the evening of the 8th in Peking time, US stocks opened lower on Wednesday. Concerns regarding the interest rate cut path led to a decline in US stocks yesterday, and the market is focusing on the Federal Reserve's monetary policy meeting minutes in December. The December ADP private employment data in the USA was below market expectations. The President-elect Trump is considering declaring a national economic emergency to promote new tariff policies.
AMD (AMD.US) invests in the startup Absci (ABSI.US) involved in the Medical Care sector.
AMD (AMD.US) announced a new partnership and investment with the startup Absci Corp (ABSI.US). Absci stated that it has received a $20 million investment from AMD to advance its product line. Absci's stock price rose 13% in the early hours of Wednesday. Absci indicated that the structure of this investment is a private investment in public equity, known as a PIPE Trade. AMD will support Absci in using its chips and software to create better biologics for patients, reduce infrastructure costs, and accelerate the innovation cycle. This is AMD's first investment in the Medical Care sector.
U.S. stocks fluctuate | PHLX Semiconductor Index falls by 1.3%: Super Micro Computer and AMD drop over 4%.
On January 8, according to Gelonghui, the PHLX Semiconductor Index in the U.S. stock market fell by 1.3%, with chip stocks broadly declining. Nuvation Semiconductor dropped by 9.3%, Wolfspeed fell by 7.9%, MaxLinear decreased by 5.1%, Super Micro Computer was down by 4.58%, AMD declined by 4.3%, GlobalFoundries fell by 3.88%, Cirrus Logic dropped by 3.66%, STMicroelectronics ADR decreased by 3.39%, Skyworks Solutions fell by 2.92%, and ON Semiconductor was down by 2.6%.
AMD Slides as HSBC Downgrades on Nvidia Worries
Market Update | AI drug development company Absci surged over 20%, receiving a $20 million investment from AMD.
Absci (ABSI.US) has received a $20 million investment from AMD (AMD.US) in the form of private equity (PIPE).
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Absci Stock Jumps As AMD Invests $20M To Boost AI Drug Discovery