Advanced Micro Devices stock was dropping Monday after BofA Securities downgraded shares of the chip maker, citing concerns over competition and the personal computer market. Vivek Arya downgraded shares of AMD to Neutral from Buy and cut his price target to $155 from $180.

See What’s New With Palantir Stock? AMD stock has fared well over the last 4-year period, rising from levels of about $90 in the beginning of 2021, to highs of over $200 earlier this year. However, the gains have been far from consistent,

Advanced Micro Devices shares lost ground Monday after Bank of America downgraded the stock and lowered its price target, citing downside risks from higher competition.

Shares of Advanced Micro Devices Inc. (AMD) were down as much as 2% in pre-market trading on Monday after Bank of America (BofA) downgraded the stock, citing increased competition and limited market share potential in the artificial intelligence (AI) sector.