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Barclays expects AMD to fall 30% after cryptocurrency mining dies down

Published 08/08/2017, 12:59 PM
© Reuters.  Barclays expects AMD to fall 30% after cryptocurrency mining dies down
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  • Barclays (LON:BARC) reiterates its Underweight rating on Advanced Micro Devices (NASDAQ:AMD) with a $9 price target and predicts shares could fall 30% once the cryptocurrency boom ends, according to CNBC.
  • Analyst Blayne Curtis says the improved revenue guidance in the last earnings report appears driven by Ethereum tailwinds and that “investors should place very little value on this earnings stream.”
  • Curtis notes that AMD has lost gaming market share to Nvidia and expects cryptocurrency mining to dwindle due to high graphics card prices driving down pricing.
  • AMD shares are down 0.52%.
  • Now read: AMD Plans To Conquer Intel (NASDAQ:INTC) In The Server Space


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