INTC - Advanced Micro Devices slips as Barclays downgrades on concerns over 2023

Advanced Micro Devices (NASDAQ:AMD) shares slipped in premarket trading on Thursday after investment firm Barclays raised concerns over the company's 2023 performance, citing "elevated levels" of growth in several of the company's end-markets. Analyst Blayne Curtis lowered his rating to equal weight from overweight and cut the price target to $115 from $148 on Advanced Micro Devices (AMD), noting that revenue is still likely to grow 31% this year, but there are concerns that growth rates in PCs, gaming and broad/based, along with the Xilinx acquisition could cool next year. "We don't have a smoking gun pointing to a correction underway in any of these markets, but it's very clear to us that all 3 segments are running at elevated levels," Curtis wrote in a note to clients. Advanced Micro Devices (AMD) shares fell slightly more than 2% to $116.60 in premarket trading on Thursday. In addition, Curtis noted that AMD's (AMD)

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Advanced Micro Devices slips as Barclays downgrades on concerns over 2023