🔴 AMD is trading 3% down today as Citi maintains Neutral rating despite price target hike

AMD is trading 3% down at $411.27 as Citi maintains a Neutral rating on the stock despite significantly raising its price target.

• Citi raised its price target to $460 from $358, citing a long-term $132 billion CPU market forecast, but noted that much of the optimism is already reflected in the current valuation.
• The decline comes amid broader weakness in the Nasdaq and profit-taking across the AI and semiconductor sectors following a strong multi-week rally.