Goldman, which doesn't see the chipmaker's giant spring rally as justified. "As has been the case with many of the other rallies in AMD, which have all faded, ultimately, the numbers do not justify the move in the stock ... we expect continued disappointing results in the PC segment to mitigate the impact of increased revenue from gaming." Goldman upgraded AMD to Neutral last September, when shares were at $3.47.
Goldman didn't cause the drop, it was just an excuse to start the correction. AMD needs to correct and it has nothing to do with company fundamentals. In fact, based on fundamentals, AMD has never returned ANY shareholder value. Consider AMD a trading stock--it sure ain't an invesment stock