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Fly News Breaks for July 8, 2016
AMD
Jul 8, 2016 | 08:27 EDT
As noted earlier, Bernstein downgraded AMD to Underperform from Market Perform. The firm thinks that the company's Q2 results could miss expectations. It believes that AMD's better than expected PC chip results in Q1 were driven by channel fill, while sales of its new Zen chip for servers probably won't increase much for another year. Additionally, Bernstein thinks that the company will have to consistently post better than expected results as the year progresses for the stock to advance. Target remains $3.
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