In the report, Bernstein research noted. "We promised ourselves once upon a time never to take an active stance on AMD again, pursuing instead a thesis of 'prudent avoidance.' That being said, we have been tempted to go short for some time, with only fear holding us in check. However, recent results have made the structural short case simply too tempting for us to ignore. Therefore, we are diving back into the pool, and downgrading the stock to underperform, lowering our target to 2.50"