🔴 AMD is trading down over 4% on analyst downgrade and profit-taking

AMD is trading at $332.38 (-4.44%) as the stock pulls back from a major rally and digests a new analyst downgrade.

• The stock was downgraded to Market Perform from Outperform by Northland Capital Markets on April 27.
• The move also reflects profit-taking after the stock surged nearly 14% on Friday, April 24.
• The prior rally was fueled by a positive read-through from Intel's strong earnings and a DA Davidson upgrade to Buy with a $375 price target.